Green hydrogen startup Versogen to relocate to Newark area

Versogenic chose Newark as the site for a $4.8 million expansion that includes moving its operations from The Innovation Space near Wilmington to larger, modernized facilities at the FMC Stine Research Center.

Versogen focuses on Anion Exchange Membranes (AEM) and AEM-based electrolyzers to produce green hydrogen at low cost.

The startup’s systems are designed to make green hydrogen affordable and sustainable, from materials used in manufacturing to operating costs.

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

Versogen’s investment includes the renovation of Stine Building 115 and the creation of additional laboratory space on the site, which will be fully operational by 2024. The company’s relocation will accommodate its next level of operations, which includes the addition of forty-nine new jobs over the next three years to the 16 positions currently comprising the company.

“At FMC Stine Research Center, we work hard to change the world for the better,” said Dr. Kathleen Shelton, executive vice president and chief technology officer of FMC. “We are delighted to welcome Versogen and congratulate them for developing industry-leading green energy technologies. We appreciate the Delaware Prosperity Partnership for the continued collaboration and active building of a strong ecosystem of entrepreneurship and innovation in the state of Delaware.

FMC previously acquired crop protection company DuPont and took R&D space in part of the Stine-Haskell complex.

The company applied for a Delaware Lab Space grant of $450,380 and a Jobs Performance Grant of $151,343 from the Delaware Strategic Fund to support the company’s investment of more than $4.8 million.

Distribution of Delaware Strategic Fund grants depends on the company meeting professional and financial commitments. The request was approved by the Financing for Development Board.

“Versogen has been strongly supported by the State of Delaware directly or indirectly since its inception,” said Yushan Yan, co-founder and CEO of Versogen. “The grants approved today for Versogen by the Delaware Strategic Fund demonstrate Delaware’s unwavering commitment to creating a vibrant entrepreneurial environment for startups and providing much-needed facility grants for their growth.

Versogen began with research conducted in Yan’s lab in his role as the Henry B. du Pont Professor of Chemical and Biomolecular Engineering at the University of Delaware.

Originally known as W7 Energy and renamed Versogen in 2021, the company has been backed by over $5 million in grants. These include the prestigious Project BIRD grant in 2020 and selection as one of three startups in the fourth cohort of the Shell GameChanger Accelerator (GCxN) program in 2021.

Earlier this year, Versogen closed a Series A funding round that raised $14.5 million. This investment allows the company to expand the development of its low-cost green hydrogen electrolyser stacks. Among the investors is Wilmington-based Chemours Co.

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