Evoloh, a Santa Clara, CA-based cleantech company that manufactures electrolyzer stacks for hydrogen production, raised $20M in funding.
The round was led by Engine Ventures with participation from a subsidiary of NextEra Energy Resources and 3M Ventures.
The company intends to use the funds to expand its high-throughput manufacturing technology and to introduce additional capabilities for its NautilusTM platform of advanced liquid alkaline electrolyzers.
Founded in 2020 by CEO Dr. Jimmy Rojas, Evoloh manufactures water electrolyzers to make low-cost clean hydrogen production possible at gigawatt scale anywhere in the world. NautilusTM stacks, its patented electrolyzers, leverage advanced liquid alkaline technology to minimize costs and technical risks, while also optimizing manufacturing productivity, durability and efficiency. NautilusTM stacks are compact, and can be built into modules of 24 megawatts, making them ideal for large industrial applications.
FinSMEs
26/03/2024