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Galp bets on green hydrogen with $5 million in funding

August 9, 2023

Galp has announced an investment of €4.56 million in Verdagy, a U.S. company focused on developing a scalable type of electrolysis technology for industrial applications. This development involves a lower initial investment and is less dependent on critical raw materials than other comparable technologies.

The retail brand’s investment in the tech company comes as part of a financing round of which the California-based company raised a total of $73 million from strategic investors led by Temasek and Shell Ventures.

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