Verne Raises Funds for High-Density Hydrogen Storage Systems to Revolutionize Heavy-Duty Transportation
Verne Closes Funding; Brings Total $15.5M
Verne's Funding for High-Density Hydrogen Storage Systems
Key Highlights:
- Funding Round: Verne, a developer of high-density hydrogen storage systems, raised an undisclosed amount in funding.
- Investors: Led by Trucks Venture Capital, with participation from Collaborative Fund, Amazon's Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, and Newlab.
- Technology Focus: Verne's cryo-compressed hydrogen (CcH2) technology aims to enable on-board hydrogen storage for heavy-duty vehicles.
Verne's Target Market
- Heavy-Duty Transportation: Targeting sectors such as trucking, aviation, port vehicles, mining, and hydrogen distribution for decarbonization and zero-emission operations.
- Companies Transitioning to Green Solutions: Businesses seeking to adopt sustainable and environmentally friendly alternatives for their transportation needs.
- Government and Environmental Initiatives: Collaborating with organizations and initiatives focused on reducing carbon emissions and promoting clean energy solutions.
What Verne Needs to Buy
- Research and Development: Investing in further R&D to advance their cryo-compressed hydrogen technology and optimize its applications.
- Manufacturing and Production: Collaborating with manufacturers to scale up production of high-density hydrogen storage systems.
- Partnerships and Alliances: Forming strategic partnerships with heavy-duty vehicle manufacturers, transportation companies, and government entities to promote the adoption of their technology.