Doral, a Leading Global Renewables Developer, Announces Strategic Green Hydrogen Agreement with Verdagy

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Apr 09, 2024, 05:00 ET

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

MOSS LANDING, Calif., April 9, 2024 /PRNewswire/ -- 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," said Verdagy CEO Marty Neese.

"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: www.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.

SOURCE Verdagy