The round was 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.

Verne was founded in 2020 to develop high-density hydrogen storage solutions required to decarbonize heavy-duty transportation. Verne's platform unlocks zero-emission operations in sectors including trucking, aviation, port vehicles, mining and hydrogen distribution.