EVOLOH Secures $20 Million in Funding for Revolutionary Hydrogen Production Technology

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

The new capital raised will enable EVOLOH 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.