Three electrochemistry startups represent the fourth cohort of the Shell GameChanger Accelerator Powered by NREL
Versogen joins the fourth cohort of cleantech companies to participate in the invitation-only Shell GameChanger™Accelerator Powered by NREL (GCxN). The highly selective program provides promising cleantech companies with access to financial resources, state-of-the-art facilities, and world-class technical experts available through the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and Shell’s incubator program, Shell GameChanger.
The American manufacturing industry is largely powered by petroleum and natural gas and is on track to become the largest source of the nation’s greenhouse gas (GHG) emissions within the next ten years. Innovations in renewable electrochemistry are creating significant opportunities to reduce the impact of carbon emissions in widely used resources and fuels.
“GCxN’s fourth cohort will help prove that electrochemistry technologies can replace carbon-intensive legacy processes. As renewable energy costs continue to drop, cross-industry initiatives and partnerships will prove that it’s possible to cost-effectively scale these technology applications and achieve real-world impact,” said Haibin Xu, Shell’s GCxN program manager.
Versogen aims to decarbonize heavy, hard-to-abate industries by producing low-cost green hydrogen. Their new class of zero-emission electrolyzer, built with patented anion exchange membrane (AEM) technology, uses earth-abundant materials, water, and renewable energy to produce affordable hydrogen at scale.
“We appreciate the opportunity to work together with Shell and NREL in this unique accelerator program,” remarks Yushan Yan, CEO of Versogen. “Our cohesive team shares a vision to become the global leader in leveraging the sustainability and versatility of hydrogen to achieve a carbon-neutral society. The GCxN program will provide critical resources needed to bring our new AEM electrolyzer to market.”
Engineered to reduce costs at every stage, Versogen’s AEM electrolyzer is built with the most advanced membranes that offer unprecedented durability, performance, and scalability. This pioneering approach to hydrogen generation provides operational benefits similar to a proton exchange membrane (PEM) electrolyzer system at a significantly lower capital expenditure cost. Versogen electrolyzer will offer the combination of:
- Increased energy efficiency
- High-purity hydrogen
- Pressurized supply of hydrogen
- Pure water feed
- Compact and scalable stacks
- Build with earth-abundant materials
“The path to a sustainable energy future depends on affordable green hydrogen,” comments Santiago Rojas-Carbonell, COO of Versogen. “Our electrolyzer has the potential to transform the energy sector and play an important role in the global energy transition toward net-zero emissions.”
GCxN startups are nominated by the program’s network partners, including more than 60 cross-industry cleantech incubators, accelerators and universities, before undergoing in-depth review by Shell and NREL. The three companies in the fourth cohort— Versogen, Air Company and Ionomr Innovations —will benefit from NREL’s research capabilities, receive up to $250,000 in non-dilutive funding, and have access to networking opportunities through NREL’s Innovation and Entrepreneurship Center. Participating startups have raised more than $52 million of funding to date, representing a $21 leverage ratio for each dollar of GCxN funding. For more information about the program, the new cohort and other participating startups visit GCxNREL.com.
About GCxN
The Shell GameChanger™ Accelerator powered by NREL (GCxN) is a new multi-million dollar, multi-year program developed in collaboration between Shell GameChanger and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to discover and advance emerging clean technologies with the potential to dramatically alter the future global energy landscape. GCxN identifies promising startup companies through an ecosystem of more than 60 cleantech business incubators, accelerators and universities, providing access to up to $250,000 in non-dilutive funding in the form of technical experts to develop and demonstrate new energy technologies. GCxN is made possible by funding through Shell GameChanger. GCxN is administered by NREL, located in Golden, Colorado.