Page 96 - Innovation Delaware 2021

MANUFACTURING AND LOGISTICS
Versogen: Finding New Ways to Generate Green Energy
The team at Versogen is poised for a banner year. After several years of scaling its patented anion exchange membrane (AEM) technology, the company rebranded in January. It will now focus on a breakthrough electrolyzer
that can generate green hydrogen without carbon emissions. It’s all part of a carefully crafted business model that has
met with increasing success in the energy sector and garnered financial awards from academic and business circles that have praised the startup’s promising innovation.
Launched as W7energy by University of Delaware professor Yushan Yan and six of his former postdoctoral researchers,
the company was named the winner of the first University of Delaware FastPass Award in 2018. It received $50,000 in financial support, including lab space at Delaware Innovation Space. Since then, the company has received more than $5 million in grants.
“The financial support that we have received has been essential to successfully transfer the AEM technology from the laboratory where it was born at the University of Delaware to a product being commercialized worldwide,” says COO and co-founder SANTIAGO ROJAS-CARBONELL.
The company rebranded as Versogen — a combination of the words “versatile” and “generation” — as a reflection of its expanded business model. Under that model, Versogen will engineer electrolyzer systems that leverage its AEM technology. An electrolyzer is a system that uses electrical energy to break water into hydrogen and oxygen. When coupled with green energy produced from solar or wind power, AEM electrolyzers will produce low-cost green hydrogen.
According to Rojas-Carbonell, the world currently emits
36 gigatons of CO2 per year. Hydrogen will play a key role
in the reduction of carbon emissions in various industries, including metal refining, cement manufacturing, transportation, heat and power. While current green electrolyzer systems exist, they’re expensive.
Versogen’s AEM technology has been a long-awaited breakthrough that enables energy efficiency with low-cost construction materials. In an electrolyzer, that means green hydrogen at lower prices — a transformative innovation for the energy sector. The technology was also a green light for the company to go vertical.
“Our vertical expansion is happening just in time,” says Rojas-Carbonell. “With the increased interest in hydrogen as a cornerstone for energy transition and our success in scaling up the production of our patented AEM, we are now in a position to start developing our electrolyzer systems. This development leverages the expertise of our team on electrochemical systems and, very importantly, on the insights of AEM.”
With AEM business growing substantially — it’s selling in more than 15 countries for a wide number of applications — Versogen’s focus on developing its own electrolyzer stacks means it will eventually have products in both business segments.
“The past year has been the opportunity to see the company expand beyond the initial core team. Most of us have been working for several years together, and bringing new team members has been a fantastic experience,” says Rojas-Carbonell, one of 14 employees. Sales in excess of $500,000 are a good indicator that Versogen’s materials are making a difference in the green energy systems for which they were developed.
Delaware roots were also instrumental in the company’s growth, and Rojas-Carbonell credits chemical industry expertise and infrastructure with helping a startup like Versogen to succeed.
“This is not a traditionally easy industry due to its particular complexities and capital intensiveness,” he adds.
When it rebranded, the Versogen team also added a tagline to the company name: “Hydrogen Generation.” It’s a portent
of things to come, according to Rojas-Carbonell. “This is the generation that will make broad implementation of hydrogen as
an energy vector a reality.”
VERSOGEN TEAM
94 DelawareBusinessTimes.com
—Christi Milligan