Verdagy Announces Grand Opening of its Gigawatt-Scale Silicon Valley Factory
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Shell and Verdagy to Collaborate on Renewable Hydrogen Projects

Shell to Endorse Verdagy Renewable Hydrogen Electrolyzers After Successful, Year-Long, Completion of Detailed Technology, Design and Safety Reviews

Verdagy, a renewable hydrogen electrolysis company with over a decade of technology and product development experience, announced today that Shell provided technical endorsement of Verdagy’s eDynamic® electrolyzers. This major step qualifies Verdagy as a supplier in its upcoming green hydrogen projects. Verdagy worked with the Shell team to successfully complete a rigorous “HAZOP” (safety) review along with a detailed Design and Technology Development Review of Verdagy’s electrolyzers, as necessary and important steps to commercial adoption within Shell.

“Verdagy has developed and commercialized dynamic and cost-competitive electrolyzers for infrastructure-scale projects,” said Andrew Beard, Vice President of Hydrogen, Shell. “We’re excited with the outcomes of our evaluations and are enthusiastic to continue working with Verdagy in the near future.”

Shell conducted Technical Feasibility and Technology Development Reviews for Verdagy’s 20 megawatt (MW) eDynamic Electrolysis system, which included in-depth diligence of electrolyzer operation, performance, stability and safety. Verdagy uses the 20 MW electrolyzer as a building block for infrastructure-scale, (100 MW and larger) renewable hydrogen installations

The Verdagy and Shell teams are excited by the successful completion of this year-long collaboration, and I look forward to the uptake of Verdagy’s advanced electrolyzers by the industry following Shell’s technology endorsement.”

Marty Neese

Marty Neese

CEO, Verdagy

Verdagy’s electrolyzers provide the lowest levelized cost of hydrogen (LCOH) by combining high current densities, the widest operating range in the industry and fast response, to enable seamless coupling with renewable power sources. Verdagy is committed to achieving the US Department of Energy’s goal of $2/kg of levelized cost for renewable hydrogen by 2026; the company was recently awarded a $39.6M grant (pending negotiations) by the Department of Energy to accelerate the high-volume manufacturing of Advanced Alkaline Water Electrolysis eDynamic electrolyzers.

About Verdagy

Verdagy has commercialized advanced electrolysis technology for the large-scale production of renewable hydrogen. The company’s industry-leading solution reduces both upfront capital costs and ongoing operating expenses, to achieve the industry’s lowest levelized cost of hydrogen. In addition to its Silicon Valley factory, Verdagy operates its R&D and highly automated commercial pilot plants in Moss Landing, California. For more information, visit: verdagy.com

“ We are focused on building an entire renewable hydrogen ecosystem in California to achieve our climate goals - including the crucial step of manufacturing electrolyzers. Verdagy’s decision to expand their footprint here reflects California’s unique strength in creating new markets, enabling the creation of clean energy jobs while solving our most existential challenges with the technology of the future.”

Dee Dee Myers

Senior Advisor to Governor Newsom and Director of the Governor’s Office of Business and Economic Development
“ Yara is taking the lead on driving the use of electrolyzers in the ammonia and fertilizer industry. We see a strong need for cost competitive, clean hydrogen to be able to decarbonize and drive the movement towards a more environmentally friendly industry. Electrolysers is a technology requiring a lot of innovation and product development. We are really impressed by how Verdagy is taking on this challenge and want to take part in this adventure. The world needs them.”

Stian Nygaard

Investment Director in Yara Growth Ventures
“ Verdagy is rising to the challenge to accelerate the green hydrogen economy and decarbonize hard-to-abate sectors such as steel and ammonia production. The management team has a successful track record in scaling climate technologies from megawatts to gigawatts and they are committed to achieving the same at Verdagy.”

Vikas Gupta

Partner at Shell Ventures
“ Verdagy’s potential to demonstrate high-current density over a wide dynamic range across large-area cells led us to incubate and write the first check into the company in early 2020. Since then, the team has made significant progress in validating key performance and cost targets, getting them closer to building out a green hydrogen economy.”

Rajesh Swaminathan

Partner, Khosla Ventures
“ We are more than doubling down in this round on Verdagy, we are witnessing how they have gone from a valuable technology to a defensible business.”

Anil Achyuta

Managing Director at TDK Ventures
“ We are focused on building an entire renewable hydrogen ecosystem in California to achieve our climate goals - including the crucial step of manufacturing electrolyzers. Verdagy’s decision to expand their footprint here reflects California’s unique strength in creating new markets, enabling the creation of clean energy jobs while solving our most existential challenges with the technology of the future.”

Dee Dee Myers

Senior Advisor to Governor Newsom and Director of the Governor’s Office of Business and Economic Development
“ Yara is taking the lead on driving the use of electrolyzers in the ammonia and fertilizer industry. We see a strong need for cost competitive, clean hydrogen to be able to decarbonize and drive the movement towards a more environmentally friendly industry. Electrolysers is a technology requiring a lot of innovation and product development. We are really impressed by how Verdagy is taking on this challenge and want to take part in this adventure. The world needs them.”

Stian Nygaard

Investment Director in Yara Growth Ventures
“ Verdagy is rising to the challenge to accelerate the green hydrogen economy and decarbonize hard-to-abate sectors such as steel and ammonia production. The management team has a successful track record in scaling climate technologies from megawatts to gigawatts and they are committed to achieving the same at Verdagy.”

Vikas Gupta

Partner at Shell Ventures
“ Verdagy’s potential to demonstrate high-current density over a wide dynamic range across large-area cells led us to incubate and write the first check into the company in early 2020. Since then, the team has made significant progress in validating key performance and cost targets, getting them closer to building out a green hydrogen economy.”

Rajesh Swaminathan

Partner, Khosla Ventures
“ We are more than doubling down in this round on Verdagy, we are witnessing how they have gone from a valuable technology to a defensible business.”

Anil Achyuta

Managing Director at TDK Ventures
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