Wilmington-area green energy startup Versogen has secured a $14.5 million Series A funding round led by Korea-based Doosan Corporation and its affiliate HyAxiom, Inc.
Other investors include Wilmington-based Chemours Company, TechEnergy Ventures, Wenstone H2Tech LLC, TOP Ventures America LLC, a CVC arm of Thai Oil Public Company Limited, DSC Investment, and CN Innovations Investments Limited. The new funding will support the development and prototype of Versogen’s electrolyzer stacks and expand the production of their anion exchange membranes (AEM).
Versogen was founded by Yushan Yan, Henry B. du Pont Chair of Chemical and Biomolecular Engineering at the University of Delaware.
The company is based at the Delaware Innovation Space at the DuPont Experimental Station near Wilmington.
The company aims to provide…