Trucks Venture Capital, Collaborative Fund, Amazon Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Newlab and other strategic investors back Verne’s cryo-compressed hydrogen storage technology.
Verne, a leading developer of high-density hydrogen storage systems, today announced a strategic fundraise led by Trucks Venture Capital, with participation from existing investors Collaborative Fund and Amazon’s Climate Pledge Fund, and new investors United Airlines Ventures Sustainable Flight Fund and Newlab. The new funding will enable Verne to accelerate development of their cryo-compressed hydrogen (CcH2) technology for on-board hydrogen storage for heavy-duty vehicles. The investment brings Verne’s total funding to $15.5M including grant funding.
Heavy-duty transportation is responsible for 12% of U.S. greenhouse gas emissions. Regulations such as California’s Advanced Clean Fleets and corporate “net zero” commitments…