Verdagy Announces Grand Opening of its Gigawatt-Scale Silicon Valley Factory
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Doral, a Leading Global Renewables Developer, Announces Strategic Green Hydrogen Agreement with Verdagy

The Companies Will Collaborate on Doral’s Green Hydrogen Development Pipeline of Over 1 Gigawatts to Deploy Verdagy’s Electrolyzers in Doral’s Facilities

Verdagy, a green hydrogen electrolysis company with over a decade of technology and product development experience, announced today a strategic agreement with Doral, a leading renewable energy developer, in which Verdagy will supply green hydrogen electrolysis systems to Doral through 2030. The agreement is global with a focus on green hydrogen projects Doral is developing in Europe, United States, Australia and the Middle East.

Doral has a proven track record of developing infrastructure-scale renewable energy projects for over 15 years and Verdagy is excited to work together with Doral to drive the transition to green hydrogen”

Marty Neese

Marty Neese

CEO, Verdagy

“Verdagy has developed green hydrogen electrolyzers that seamlessly pair in real-time with renewable energy sources, have the highest efficiencies and are cost-effective. With Verdagy’s electrolyzers already operating for several years, we are excited to now use these in our infrastructure scale, green hydrogen projects,” said Doral Hydrogen Managing Director Yam Efrati-Bekerman.

This partnership is imperative to accelerate the adoption of green hydrogen; society has recognized green hydrogen as the most attractive solution to reduce 25 percent of global energy-related carbon dioxide emissions by decarbonizing difficult-to-abate sectors such as fertilizers, oil and gas, mining, transport and steel.

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.

About Doral

Doral Energy is renewable energy and environmental infrastructure developer, with a strong focus on solar PV deployment, acting in USA, Europe and Israel since 2007. Doral Energy currently has a 16 GW pipeline of projects under development and 14MWh of battery storage in the US and Europe. The company focuses on the development, funding, building, operating, and long-term ownership of renewable energy facilities across technologies, including onshore wind, ground-mounted and rooftop solar, water reservoirs, and waste disposal facilities and infrastructures.

Since June 2020, Doral Energy is traded on the Tel Aviv Stock Exchange under the ticker symbol: DORL. Doral Hydrogen is the Hydrogen subsidiary of Doral Group to develop, build, and operate green hydrogen and green ammonia projects in the USA, Australia, Europe, and MENA. The company already operates an HRS in the Netherlands and is developing more than 1GW projects for green hydrogen and ammonia production. Some of the projects will be executed in 2025 and already secured the off.  Doral Hydrogen intends to build the first green hydrogen valley and the first green ammonia project in Israel (both were granted by the Ministry of Energy of Israel). Furthermore, the company was also granted by the EU to establish 6 hydrogen refueling stations in Sweden.

“ 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 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
“ 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
“ 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 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
“ 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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