Elon Musk's xAI Prepares to Launch Standalone Consumer App, Valuation Soars to $50 Billion
xAI, Elon Musk's AI company, is set to release a consumer app similar to ChatGPT, with a valuation of $50 billion expected after its next funding round.

Riley King
Despite being the most abundant element in the universe, producing cheap and clean hydrogen on Earth has long been a significant challenge. However, Fourier, a startup founded by Siva Yellamraju, is poised to change that with its innovative approach to hydrogen production, which has just secured $18.5 million in Series A funding.
Yellamraju, CEO of Fourier, highlighted the two primary problems plaguing the hydrogen industry: efficient production and distribution. To address these issues, Fourier has developed a modular electrolyzer system that can be mass-produced and fits into a compact space, similar to two standard server racks standing side-by-side. This design allows for scalability and ease of deployment, making it an attractive solution for industries reliant on hydrogen.
The company's modular system is inspired by the data center world, where multiple small electrolyzers, dubbed "blades," are installed within each module. These blades are fed water from a shared pump and electricity from lightly modified power supplies, similar to those used in data centers. This approach enables Fourier to utilize components already sold in the billions, reducing costs and increasing efficiency.
Software plays a critical role in optimizing the operation of each blade, drawing inspiration from the lithium-ion battery industry. Fourier's system monitors the performance of each electrolyzer blade, adjusting output and detecting signs of degradation. This approach enables the company to "push the overall efficiency problem and production problem into a data optimization problem," according to Yellamraju.
Fourier has already operated two lab-scale pilots, producing about a kilogram of hydrogen per hour, in partnership with a pharmaceutical manufacturer and a solar energy company. The startup is now preparing to launch two commercial-scale pilot plants, one in Ohio and another in California, which are expected to be operational by June. These pilots will target customers requiring six to 20 kilograms of hydrogen per hour, necessitating around 300 kilowatts to 1 megawatt of electrolyzer capacity.
Fourier's innovative approach has the potential to significantly reduce the cost of hydrogen production. Currently, commercial customers pay around $13 to $14 per kilogram of hydrogen. Yellamraju claims that Fourier can deliver hydrogen for $6 to $7 per kilogram, excluding government incentives. This price reduction could be a game-changer for industries reliant on hydrogen, such as pharmaceutical, petrochemical, and ceramics manufacturing.
The $18.5 million Series A funding round, led by General Catalyst and Paramark Ventures, demonstrates investor confidence in Fourier's technology. Other participating investors include Airbus Ventures, Borusan Ventures, GSBackers, MCJ Collective, and Positive Ventures. As the company continues to scale and refine its technology, it may play a crucial role in making clean energy more accessible and affordable.
In the broader context, Fourier's innovation could have significant implications for the transition to a low-carbon economy. As the world continues to grapple with the challenges of climate change, the development of affordable and efficient clean energy solutions will be critical. Fourier's technology has the potential to make a meaningful impact in this regard, and its success could pave the way for further innovation in the clean energy sector.
xAI, Elon Musk's AI company, is set to release a consumer app similar to ChatGPT, with a valuation of $50 billion expected after its next funding round.
Nikola, an electric truck company, has filed for Chapter 11 bankruptcy protection, citing market and macroeconomic factors, after facing allegations of fraud and the imprisonment of its former CEO.
California-based startup Netradyne secures $90 million in Series D funding to accelerate growth and improve driver safety with its AI-powered dashcams and fleet management solutions.
Copyright © 2024 Starfolk. All rights reserved.