Versogen plans a $4.8 million expansion and will add dozens of new jobs in Newark, Delaware

July 5, 2022

Article by Jacob Owens of Delaware Business Times

The green hydrogen startup Versogen will return to its Newark roots in a $4.8 million expansion that will add dozens of new jobs.

The firm, which grew out of research by University of Delaware professor Yushan Yan, will be relocating from its current labs at The Innovation Space at DuPont’s Experimental Station near Wilmington to a larger space at FMC Stine Research Center in Newark.

In supporting that expansion, the state’s investment board, the Council on Development Finance, unanimously approved a $450,380 lab space grant and a $151,343 job performance grant to create 49 new engineering, manufacturing and executive jobs over the next three years. Versogen currently employs 16 people.

“Delaware has been a hub for innovation for decades. Versogen is the latest success out of Delaware’s Innovation Space and a great example of the collaborative environment we have for economic development in our state,” Gov. John Carney said in a statement touting the homegrown expansion. “We are excited for Versogen’s expansion, bringing new jobs and important technologies to New Castle County.”

Versogen Sticks With Delaware For $4.8 M Expansion

Article by Business Facilities

Green energy startup Versogen has chosen Delaware as the site for its more than $4.8 million expansion. The company will move its operations from The Innovation Space in Wilmington, DE to larger, upgraded facilities at FMC Stine Research Center in Newark, DE.

To support its investment, Versogen has applied and been approved for up to $601,723 in total grant funding, comprised of a Delaware Lab Space Grant of $450,380 and a Jobs Performance Grant of $151,343 from the Delaware Strategic Fund.

“Versogen has been strongly supported by the State of Delaware directly or indirectly from its inception,” said Yushan Yan, Versogen co-founder and CEO. “The grants approved today for Versogen from the Delaware Strategic Fund demonstrate Delaware’s unwavering commitment to building a vibrant entrepreneurial environment for startups and to providing critically needed facilities grants for them to grow.”