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EVOLOH, a Clean Technology Startup, Secures $20 Million Funding for Affordable Clean Hydrogen Technology

EVOLOH, a California-based cleantech startup, has announced that it successfully raised $20 million in funding. The company plans to use the proceeds to further develop its innovative solution for efficient and low-cost clean hydrogen production.

Established in 2020, EVOLOH specializes in manufacturing high-performance electrolyzer stacks, which are essential components of hydrogen production. The company’s platform, Nautilus, uses liquid alkaline technology to reduce costs and technical risks. By utilizing common materials like steel, plastic, and aluminum instead of precious metals or rare earth materials, EVOLOH aims to make hydrogen production more affordable. They claim that their manufacturing facility will reduce capital investment and footprint by 80%.

With the new funding, EVOLOH intends to enhance its manufacturing technology and introduce new features for its Nautilus solution. Dr. Jimmy Rojas, the founder and CEO of EVOLOH, believes that this funding round will position the company as a leader in electrolyzer manufacturing by producing cost-effective and efficient hardware using local supply chains.

The funding was led by Engine Ventures, with participation from investors such as NextEra Energy Resources and 3M Ventures. Katie Rae, the CEO and Managing Partner at Engine Ventures, sees EVOLOH as having significant potential to revolutionize electrolyzer technology and manufacturing processes within the cleantech sector. She praises the company’s founding team and early partnerships, indicating that EVOLOH is a valuable addition to Engine Ventures’ portfolio of cleantech and advanced manufacturing companies.

By Samantha Jones

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