Verdagy appoints Eric Olsen and Vikas Gupta to its Board

Verdagy appoints Eric Olsen and Vikas Gupta to its Board

These appointments demonstrate the green hydrogen startup's growth trajectory as it expands its operations and commercial activities

  • By ICN Bureau | August 22, 2023

Verdagy, a pioneer in advanced alkaline water electrolysis electrolyzer technologies for large-scale industrial applications, today announced new appointments to its Board of Directors.

Aliaxis' CEO Eric Olsen and Shell Ventures' Partner Vikas Gupta are joining the Verdagy board during a period of rapid growth, as the company deploys its innovative technology in response to the Department of Energy's goal of $2/kg of levelized cost of hydrogen by 2026.

"I am pleased that these two experienced, global leaders are joining Verdagy's board," said Marty Neese, Verdagy's CEO. "Both Eric and Vikas have deep knowledge in the global transition to clean energy, and their perspectives will be valuable as we commercialize and scale our technology."

Earlier this month, Verdagy closed a $73-million Series B round co-led by Temasek and Shell Ventures. The new funding is enabling Verdagy to accelerate the launch and commercialization of its eDynamic® 20 megawatt (MW) electrolyzer module, which will serve as the fundamental unit to build future systems at the 200 MW scale and larger.

Olsen is currently CEO of Aliaxis, a global leader in fluid management solutions for building, infrastructure, industrial and agriculture applications. Prior to Aliaxis, he ran consultancy firm 1757. From 2015 to 2017, he was the CEO of LafargeHolcim, the newly created Group where he ensured the successful merger of Lafarge and Holcim.

Gupta is currently a Partner at Shell Ventures, the corporate venture capital arm of Shell plc, where he co-chairs the power investment vertical and focuses on identifying new technologies and business models in the power, mobility and industrial space.

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