W7energy, a polymer startup based near Wilmington that has raised $5 million in funding has undergone a rebranding and is now known as Versogen.
The new name reflects the company’s expanded vision and business model in the energy sector. Versogen is based in the Delaware Innovation Space, based in a portion of the DuPont Experimental Station.
A patented anion exchange membrane (AEM) technology is being leveraged to design a breakthrough electrolyzer that will generate green hydrogen without any carbon emissions, a release stated.
About 95 percent of hydrogen used by heavy industry is created by carbon-fueled systems. As global demand for hydrogen continues to grow, so does the need for emission-free alternatives.
Hydrogen can reduce carbon emissions in mineral extraction, oil refining, ammonia production and other industries that make make use of high temperatures.
Green hydrogen could also serve as a way to store excess electricity from wind and solar power. Hydrogen could later be used in processes or in producing electricity.
“Our new name points to one of our core values: versatility,” saidYushan Yan, CEO of Versogen. “Hydrogen is a versatile energy source with many applications, our young and dynamic team is versatile in developing pragmatic solutions to market needs, and our innovative energy technologies are versatile for use in a range of industries.”
Yan also serves as the Henry B. du Pont Chair in Chemical and Biomolecular Engineering at the University of Delaware, where Versogen’s research and development efforts began.
The expanded business model to engineer electrolyzer systems drove the need for a new name and brand that more accurately reflects Versogen’s new vision.
The state-of-the-art electrolyzer design, built with earth-abundant materials, uses only water and renewable energy to supply affordable green hydrogen.
According to a release, this low-cost approach to generating green hydrogen will transform the energy sector and play an important role in the global energy transition toward a carbon-neutral economy.
Over the last two years, Versogen has been supported by more than $5 million in grants from multiple organizations, including:
• Blue Hen Proof of Concept Fund
• Delaware Innovation Space FastPass Award
• Unidel Foundation
• EDGE Grant – Delaware Division of Small Business
• Green Energy Fund – Delaware Department of Natural Resources and Environmental Control
• BIRD Foundation