The nearly $4.5 million project will create at least 61 new, full-time jobs in Lycoming County and further cement Pennsylvania's leadership in clean energy and advanced manufacturing. The Commonwealth is investing more than $1.27 million to support the project.
Since taking office, Shapiro has made Pennsylvania more competitive and business-friendly, securing more than $25.2 billion in private sector investments and nearly 11,000 new jobs.
Through the Commonwealth's first Economic Development Strategy in nearly two decades, historic site development funding, and streamlined permitting and licensing, the Shapiro Administration is delivering real results and attracting cutting-edge companies like Verne.
Verne developed a process to increase the density of hydrogen by storing the gas in a cold-and-compressed state, making it more efficient to transport in larger volumes. Scaling up to commercial operations, the company will manufacture hydrogen storage vessels at its new facility in the Marcellus Energy Park in Muncy, partnering with local manufacturers to leverage their expertise in critical processes.
Verne’s storage and transportation vessels will help Pennsylvania expand its nation-leading energy sector, which includes an exceptionally strong natural gas industry. To support the project, the Department of Community and Economic Development (DCED) provided the company with a funding offer that includes a $1 million Pennsylvania Industrial Development Authority (PIDA) loan, a $153,000 Pennsylvania First grant, and a $122,000 WEDnetPA grant to help train its new employees. The company can also apply for Research and Development tax credits, which could provide additional benefits.
"After conducting a nationwide search, we determined that North Central Pennsylvania was the perfect place to establish our manufacturing footprint," said Ted McKlveen, Verne co-founder and CEO.
"Pennsylvania is making strategic investments to grow our innovation, energy, and manufacturing industries, and Verne clearly recognized that our Commonwealth is competing again because they chose us over Ohio, Michigan, and West Virginia for its first manufacturing facility in the country," said Shapiro.
"My Administration is proud to win deal like this that strengthen our local communities, grow our manufacturing sector, and position Pennsylvania as a national leader in innovation and job creation. We're competing aggressively for private sector investment - and Pennsylvania is open for business."
"This investment in Verne is another example of how the Shapiro administration is diversifying our energy sector while fosterting innovation and supporting the Commonwealth's vital manufacturing industry," said DCED Secretary Rick Siger.
Founded in San Francisco in 2020, Verne provides modern energy distribution solutions for sectors including construction, data centers, drilling, ports and more. Verne is supported by the U.S. Department of Energy, the U.S. Army, and many major companies across the country.
