San Francisco, California & Whittier, California, July 2, 2024 — Cryostar and Verne announced a Memorandum of Understanding to develop a full suite of cryo-compressed hydrogen (CcH2) fueling solutions for heavy-duty station developers and heavy-duty fleets. The two companies will jointly develop and demonstrate technology for “future-proofed” heavy-duty hydrogen stations capable of dispensing both compressed hydrogen and CcH2.

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Read the full press release: https://cryostar.com/cryostar-and-verne-partner-to-develop-cryo-compressed-hydrogen-fueling-solutions-for-heavy-duty-vehicles/

Verne was awarded funding through the U.S. Army Energy Demand Reduction and Clean Energy Tech SBIR program and will conduct feasibility analysis on cryo-compressed hydrogen vehicles

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San Francisco, California, May 29, 2024 — Verne received an award to research cryo-compressed hydrogen (CcH2) vehicles for the U.S. Army. Hydrogen is an alternative fuel that can be generated on-site near the edge of operations, removing reliance on complex fuel supply chains and lowering all-in fuel costs. Cryo-compressed hydrogen is a novel form of hydrogen storage that maximizes hydrogen density, extending vehicle range without adding extra weight. During this project, Verne will work with the U.S. Army Ground Vehicle System Center and vehicle manufacturers to gather requirements and model the operational impact of adopting CcH2 solutions for medium and heavy-duty vehicles used in U.S. Army operations.

The U.S. military is the largest consumer of oil in the world, using more than 100 million barrels of oil annually. In 2021, the U.S. military emitted 51 million metric tons of CO2, greater than the total emission footprint of more than 70% of countries. However, the U.S. military has placed a strong emphasis on decarbonizing their operations: the U.S. Army released their first comprehensive Climate Strategy in 2022, with the goal of reaching net zero emissions from Army installations by 2045. Investing in clean energy research will enable the U.S. Army to achieve these climate targets, develop supply chain resiliency, and remain at the cutting edge of important frontier technologies like CcH2.

The U.S. Department of Defense has long been a leading driver of innovation, responsible for developing critical technologies with benefits extending far beyond military applications. The U.S. Department of Defense drove early semiconductor development in the 1950s, created the precursor to the modern internet in the 1960s and built the first Global Position System (GPS) in the 1970s. The U.S. Department of Defense is now leading development of alternative energy technologies to increase operational capabilities and meet their energy targets.

Verne’s cryo-compressed hydrogen technology involves cooling and compressing hydrogen to achieve the maximum hydrogen density at 73 g/L internal density, a 33% improvement over liquid hydrogen and an 87% improvement over traditional 700 bar compressed gas hydrogen. This best-in-class energy density leads to greater range and payload, enhancing operational capabilities.

“The U.S. Army has been responsible for advancing many critical technologies and Verne is excited to work together to advance cryo-compressed hydrogen,” said David Jaramillo, Verne Co-founder and CTO. “Verne’s mission is to provide zero-emission technologies that do not require costly performance trade-offs, and this is a vote of confidence that the U.S. Army believes CcH2 can meet their strict performance standards.”

Decisive Point, a venture capital firm with expertise in navigating the federal and commercial markets will provide strategic support on this award: “The DoD continues to fund technologies that enable its platforms to leverage new fuel sources like hydrogen to provide an advantage when it comes to resilient supply chains and long-range capability,” said Eric Horan, Partner at Decisive Point and former Government Contracting Officer for the U.S. Navy.

Since its founding in 2020, Verne has been dedicated to providing high-density hydrogen storage systems that meet the needs of heavy-duty transportation. Last year, Verne announced a CcH2 storage record during stationary demonstration of a 29 kg storage tank at Lawrence Livermore National Laboratory and completed the first testing of their CcH2 storage system on-board a vehicle. Verne recently announced a project to demonstrate the first CcH2 Class 8 Truck. Verne is working with key trucking fleets and OEMs, as well as leading partners across aviation, ports, mining, and hydrogen distribution & refueling.

About Verne

Verne was founded in 2020 to develop high-density hydrogen storage solutions required to decarbonize heavy-duty transportation. Verne’s platform unlocks zero-emission operations in sectors including trucking, aviation, port vehicles, mining and hydrogen distribution. Verne is financially supported by leading commercial entities, including Trucks Venture Capital, Collaborative Fund, Amazon’s Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Caterpillar VC, and Newlab. Verne is also supported by Breakthrough Energy Fellows, the Department of Energy’s ARPA-E, The U.S. Army, Alberta Innovates and other agencies. For more information, visit www.verneh2.com.

Company contact: contact@verneh2.com

Delivery and refueling are responsible for a staggering 85% of hydrogen costs in transportation, with hydrogen production accounting for just 15% of final costs!

"Investing in cost reductions across the entire hydrogen value chain, and not just in hydrogen production, will enable hydrogen to displace diesel fuel and usher in a new era of heavy-duty transportation."

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Read more: https://www.weforum.org/agenda/2024/05/hydrogen-hidden-costs-energy-transition/

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Verne’s first-of-a-kind project will demonstrate the performance benefits of cryo-compressed hydrogen fuel for Class 8 trucking and other heavy-duty transportation sectors

Edmonton, Alberta, April 24, 2024 - Verne received a grant from Alberta Innovates to fund the development and demonstration of a Class 8 truck powered by cryo-compressed hydrogen (CcH2). Verne’s project will mark the first demonstration of a Class 8 truck powered by CcH2, and will illustrate the performance benefits and decarbonization potential of the technology to key stakeholders in Alberta and beyond.

Verne (San Francisco, CA) is a leading developer of high-density hydrogen storage systems. Verne’s cryo-compressed hydrogen technology stores hydrogen at a maximum hydrogen density of 73 g/L, a 33% improvement over liquid hydrogen and an 87% improvement over 700 bar compressed gas hydrogen, maximizing vehicle range and payload. Verne’s CcH2 system enables over 1,200 kilometers of range, achieving equivalent performance to diesel-trucks and superior performance to available hydrogen and battery electric trucks. The increased density also means that Verne’s storage systems reduce material usage and cost by 50% relative to compressed gas storage systems of equivalent volume.

Through this project, Verne will work with Alberta-based partners to retrofit an existing diesel internal combustion engine truck to run on a blend of diesel and hydrogen (known as a “dual-fuel” combustion engine). Verne will then demonstrate the truck and a proprietary mobile CcH2 refueler with Alberta fleets and other collaborators. This first-of-a-kind project will demonstrate the performance of CcH2 in the rigorous Alberta operating environment and provide key stakeholders – including fleets, truck manufacturers and station developers – with first-hand experience with CcH2 and its benefits over existing options.

Heavy-duty transportation is responsible for 12% of global greenhouse gas emissions. Class 8 trucks are some of the largest polluters, as they haul heavy-payloads and travel long distances each day. Verne is targeting Class 8 trucking as the first market to commercialize its technology, but Verne has also received significant commercial interest from leading partners in aviation, port equipment, mining and hydrogen distribution.

Bav Roy, Verne Co-founder & COO, was present at the Canadian Hydrogen Convention in Edmonton, Alberta for the announcement: “Verne was founded with the mission of decarbonizing heavy-duty transportation. This project is a critical step in demonstrating that Verne’s high-capacity hydrogen systems can play a major role in bringing diesel-like performance to clean transportation. Verne thanks Alberta Innovates and our partners in the region for their strong support.”

This grant was awarded as part of Alberta Innovates’ Hydrogen Centre of Excellence Competition II. Alberta Innovates is an Alberta crown corporation advancing innovation in the province, and the Hydrogen Centre of Excellence was founded to accelerate innovation across the hydrogen value chain in Alberta.

Verne was founded in 2020 to solve the challenge of decarbonizing heavy-duty transportation through high-density hydrogen storage. Last year, Verne announced a CcH2 storage record during stationary demonstration of a 29 kg storage tank at Lawrence Livermore National Laboratory. Verne also completed the first testing of their CcH2 storage system on-board a vehicle as part of their participation in the Breakthrough Energy Fellows program. This demonstration marks the next milestone in Verne’s journey to commercialize their technology and decarbonize heavy-duty transportation.

To learn more about Verne’s efforts to decarbonize heavy-duty transportation, please visit www.verneh2.com.

About Verne

Verne was founded in 2020 to develop high-density hydrogen storage solutions required to decarbonize heavy-duty transportation. Verne’s platform unlocks zero-emission operations in sectors including trucking, off-road, aviation, and hydrogen distribution. Verne is financially supported by leading commercial entities, including Trucks Venture Capital, Amazon’s Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Caterpillar VC, Collaborative Fund and Newlab. Verne is also supported by Breakthrough Energy Fellows, the Department of Energy’s ARPA-E, Alberta Innovates and other agencies. For more information, visit www.verneh2.com.

Company contact: contact@verneh2.com

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Trucks Venture Capital, Collaborative Fund, Amazon’s Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Newlab and other strategic investors back Verne’s cryo-compressed hydrogen storage technology

San Francisco, CA, April 18, 2024 - 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.

Read the full press release
Read the Forbes article

Verne was highlited in a recent Time article "The Challenge of Decarbonizing Long-Haul Trucking":

While there are a handful of hydrogen-powered cars, there currently aren’t any hydrogen-powered trucks. But San Francisco-based startup Verne, is one company trying to change that. It says its technology doubles the density of conventional hydrogen in each tank, thereby increasing the energy available and allowing trucks to travel farther. “Our goal is to make sure trucks can make sure they maintain diesel parity [with] a full range and a full payload and the same refueling time,” says Ted McKlveen, Verne’s co-founder, and chief executive.

Ultimately, it might not be an either-or situation. McKlveen thinks there’s room for electric-powered trucks and hydrogen-fueled ones to coexist. Electric might be the better choice for short trips, while hydrogen could power vehicles that travel cross country.

Read the full article: https://time.com/collection/time-co2-futures/6766439/electric-long-haul-trucking/