Sun. Jun 16th, 2024
EVOLOH, a Cleantech Startup, Secures $20 Million in Funding for Affordable Clean Hydrogen Technology.

EVOLOH, a California-based cleantech startup, has recently secured $20 million in funding to further develop its solution for efficient and low-cost clean hydrogen production. Founded in 2020, the company specializes in manufacturing high-performance electrolyzer stacks for hydrogen production using liquid alkaline technology. EVOLOH’s platform, Nautilus, utilizes common materials like steel, plastic, and aluminum instead of precious or rare earth materials to minimize costs and technical risks.

With the new capital raised, EVOLOH plans to expand its manufacturing technology and enhance the capabilities of its Nautilus solution. Dr. Jimmy Rojas, the founder and CEO of EVOLOH, expressed his excitement about the funding, stating that it positions the company as a leader in the electrolyzer manufacturing market. He highlighted the goal of transforming electrolyzer stacks into affordable and efficient hardware commodities using 100% local supply chains.

The funding round was led by Engine Ventures, with additional investment from NextEra Energy Resources and 3M Ventures. Katie Rae, CEO and Managing Partner at Engine Ventures, praised EVOLOH for their opportunity to commercialize better and more affordable electrolyzers, as well as introducing a faster and more sustainable manufacturing platform. She noted the impressive founding team and early partnership activities of EVOLOH, making them a valuable addition to the Engine Ventures portfolio of cleantech and advanced manufacturing companies.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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