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Verdagy Announces CEO Transition to Lead Company's Next Phase of Growth

1. Marty Neese leaves Verdagy to become CEO of Ballard Power Systems. 2. Rahul Bammi, previously President, appointed as Verdagy's new CEO. 3. Verdagy focuses on scalable and cost-effective hydrogen production technologies. 4. Bammi has 25 years in clean energy, vital for commercialization. 5. Partners like Shell and TDKVentures support Verdagy's long-term growth.

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FAQ

Why Bullish?

The leadership change emphasizes strong hydrogen technology credentials, potentially boosting market perception of BLDP.

How important is it?

This shift in leadership strengthens the hydrogen sector narrative, impacting investor sentiment for BLDP positively.

Why Long Term?

Long-term implications arise from enhanced operational capability and strategic partnerships that may yield future contracts.

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PLUGFCEL
President of Verdagy, Rahul Bammi appointed CEO , /PRNewswire/ -- Verdagy, a leading green hydrogen electrolysis company, today announced a strategic leadership transition to accelerate its commercial expansion. After leading Verdagy as CEO for four years, Marty Neese is leaving to join Ballard Power Systems (NASDAQ:BLDP; TSX:BLDP) as CEO. Rahul Bammi, Verdagy's President since 2023, will succeed Neese as CEO. "I am grateful to have led Verdagy from its spin-out origins to its technology leading position today.  The innovative Dynamic Alkaline electrolyzers we have pioneered establish Verdagy for unrivalled scalability and the lowest cost of hydrogen on the planet.  I am proud of the team and am excited about Verdagy's future.  Rahul and I have worked together for the past two years and he is the right leader for the next stage of Verdagy's rapid growth.  His deep experience growing companies, commercializing new technologies, leading financing of complex projects and building enduring relationships across the hydrogen ecosystem are perfectly aligned for Verdagy's ramp," said Neese. As President of Verdagy, Bammi has led all go-to-market initiatives, developed a deep global pipeline of hydrogen projects and customers, and led capital raising.  Prior to Verdagy, Rahul has 25 years of experience scaling global technology and clean energy businesses, delivering transformative growth and leading the category creation and adoption of frontier technologies such as LEDs and smart glass. Rahul has had an exceptional career in the semiconductor industry, doubled revenues and profits in several semiconductor businesses, and raised over $2 billion of capital. "I am honored and excited to be the CEO of Verdagy. We are fortunate to have an incredible group of companies supporting Verdagy.  Visionary investors such as Khosla Ventures and Temasek, and industry partners such as Shell, TDKVentures, BHP and Yara are critical to our long-term success. They supported us as we developed our technology, and products and are now crucial partners as we commercialize at large scale. I look forward to unlocking the full potential of the Verdagy team, accelerating commercial deployments and leveraging our giga-factory to be a global leader in clean hydrogen," said Bammi. About VerdagyVerdagy manufactures Dynamic AWE electrolyzers that provide the lowest levelized cost of hydrogen (LCOH) and highest asset utilization by integrating seamlessly with intermittent energy sources, and market-leading efficiencies. Verdagy's electrolyzers are manufactured and fabricated in the U.S. It also operates a hydrogen production plant and R&D complex in Moss Landing, California, where it continues to advance its cutting-edge technologies. www.verdagy.com Media Contact:[email protected] SOURCE Verdagy WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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