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.
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January 2026
Verne is proud to be recognized as one of the top 100 innovators on the GlobalCleantech100!
Verne was recognized under the Energy & Power group for our work developing on-site power and cooling solutions that meet the speed, efficiency, reliability and sustainability needs of the data center industry.
Read more and access the full report: https://cleantech.com/the-global-cleantech-100/
December 2025
Innovative solutions are required to efficiently address the growth in demand for power from data centers. Verne is establishing a Data Center Innovation Hub at our Pennsylvania location to develop next-generation power and cooling solutions in collaboration with our technical partners.
Thank you to Pennsylvania Department of Community & Economic Development for highlighting Verne's work in advancing critical energy solutions: https://pagetsitdone.com/key_industries/energy/case-study-verne
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July 2025
Muncy, PA, July 10, 2025 - Governor Shapiro announced the establishment of Verne’s new manufacturing facility in Muncy, PA. Verne will produce storage vessels for efficiently transporting hydrogen and other low-carbon molecules. The project will create 61 new jobs in Lycoming County and establish a domestic supply of critical energy storage infrastructure.
Energy demand is growing rapidly in sectors including data centers, robotics and advanced manufacturing. The nation’s aging electricity grid is struggling to meet the growth in energy demand and is constraining the growth of businesses in these key sectors. Verne has developed energy solutions to flexibly and efficiently deliver power to data centers, construction sites, ports, airports and other critical sectors. Establishing this manufacturing facility will allow Verne to scale up our production and deploy energy solutions that keep these critical industries running.
“After conducting a nationwide search, we determined that North Central Pennsylvania was the perfect place to establish our manufacturing footprint. The proximity to key partners in the region was a crucial factor, as it will allow Verne to leverage their expertise to optimize our supply chain and manufacturing processes,” said Ted McKlveen, Verne Co-founder & CEO. “This facility will accelerate our impact in delivering energy to power critical industries that are currently not being served by our nation’s electricity grid.”
Verne received $1.27 million in support from the Commonwealth of Pennsylvania: “This investment in Verne is another example of how the Shapiro Administration is diversifying our energy sector while fostering innovation and supporting the Commonwealth’s vital manufacturing industry,” said DCED Secretary Rick Siger. “It also shows what Governor Shapiro’s 10-year Economic Development Strategy is achieving — firmly establishing Pennsylvania’s status as a leader in innovation, economic development, and job creation.”
Verne is thankful for the support of Governor Shapiro, the Pennsylvania Department of Community and Economic Development (DCED), and the Williamsport/Lycoming Chamber of Commerce for this development.
About Verne
Verne’s mission is to decarbonize the most challenging sectors of the economy. Verne provides modern and rapidly deployable power solutions to critical sectors including data centers, construction sites, ports, and airports. Verne is supported by Amazon’s Climate Pledge Fund, Breakthrough Energy Fellows, Caterpillar VC, NextEra Energy Resources, United Airlines Ventures Sustainable Flight Fund, Collaborative Fund, ARPA-E, The U.S. Army, and other leading organizations.
