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Shell (SHEL), Verdagy to Partner on Renewable H2 Projects
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Shell plc (SHEL - Free Report) recently granted its technical endorsement to Verdagy Inc., a leading water electrolysis technology developer, for its eDynamic electrolyzers, marking a milestone in the field of renewable hydrogen electrolysis. This is a significant development for both companies as the world increasingly turns to hydrogen as a clean energy source.
Technical Approval and Collaboration Details
Shell's technical endorsement of Verdagy's electrolyzers highlights the company's commitment to embracing renewable energy technologies. Through rigorous Technical Feasibility and Technology Development Reviews, Shell has approved Verdagy's 20 megawatt eDynamic Electrolysis system, affirming its suitability for integration into Shell's green hydrogen projects.
Advantages of Verdagy's Electrolyzers
Verdagy's electrolyzers boast several key advantages that set them apart in the market. With a focus on performance, stability and safety, these electrolyzers offer dynamic performance, cost competitiveness and scalability.
Leveraging high current densities, a wide operating range and rapid response capabilities, Verdagy's electrolysis solutions seamlessly integrate with renewable power sources, facilitating large-scale green hydrogen production.
Commitment to Cost Efficiency and Sustainability
Verdagy is committed to achieving the U.S. Department of Energy's goal of reducing the levelized cost of hydrogen (LCOH) to USD 2 per kilogram by 2026. This commitment aligns with Shell's vision of promoting sustainable energy solutions and reducing the overall cost of green hydrogen production.
By providing the lowest LCOH in the industry, Verdagy's electrolyzers hold the potential to make green hydrogen a more economically viable and sustainable energy option.
Implications for the Industry
Shell's endorsement of Verdagy's electrolyzers not only validates the companies’ technical capabilities but also opens the door for their widespread adoption in the industry. As leaders in the transition toward renewable energy, Shell and Verdagy are spearheading the development of sustainable solutions that promise to transform the energy landscape. By collaborating on advanced electrolysis technology, these companies are paving the way for a cleaner, greener future.
Accelerating the Transition Toward Renewable Energy
Shell and Verdagy's collaboration demonstrates their shared commitment to accelerating the transition to renewable energy and decarbonizing the economy. By leveraging the potential of green hydrogen production, these companies not only reduce carbon emissions but also create opportunities for long-term growth and development.
Murphy USA is valued at around $8.72 billion. In the past year, the company’s shares have surged 62.5%.
MUSA markets retail motor fuel products and convenience merchandise, operating retail stores under the brands Murphy USA, Murphy Express and QuickChek.
Archrock is valued at $3.07 billion. The company currently pays a dividend of 66 cents per share, or 3.36%, on an annual basis.
AROC, together with its subsidiaries, works as an energy infrastructure company in the United States. The company operates under two segments — Contract Operations and Aftermarket Services.
Sunoco is valued at $6.08 billion. It is a major wholesale motor fuel distributor in the United States, distributing over 10 fuel brands through long-term contracts with more than 10,000 convenience stores, ensuring consistent cash flow.
SUN’s extensive distribution network across 40 states provides a robust and reliable source of income, and the Brownsville terminal expansion will add to its revenue diversification.
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Shell (SHEL), Verdagy to Partner on Renewable H2 Projects
Shell plc (SHEL - Free Report) recently granted its technical endorsement to Verdagy Inc., a leading water electrolysis technology developer, for its eDynamic electrolyzers, marking a milestone in the field of renewable hydrogen electrolysis. This is a significant development for both companies as the world increasingly turns to hydrogen as a clean energy source.
Technical Approval and Collaboration Details
Shell's technical endorsement of Verdagy's electrolyzers highlights the company's commitment to embracing renewable energy technologies. Through rigorous Technical Feasibility and Technology Development Reviews, Shell has approved Verdagy's 20 megawatt eDynamic Electrolysis system, affirming its suitability for integration into Shell's green hydrogen projects.
Advantages of Verdagy's Electrolyzers
Verdagy's electrolyzers boast several key advantages that set them apart in the market. With a focus on performance, stability and safety, these electrolyzers offer dynamic performance, cost competitiveness and scalability.
Leveraging high current densities, a wide operating range and rapid response capabilities, Verdagy's electrolysis solutions seamlessly integrate with renewable power sources, facilitating large-scale green hydrogen production.
Commitment to Cost Efficiency and Sustainability
Verdagy is committed to achieving the U.S. Department of Energy's goal of reducing the levelized cost of hydrogen (LCOH) to USD 2 per kilogram by 2026. This commitment aligns with Shell's vision of promoting sustainable energy solutions and reducing the overall cost of green hydrogen production.
By providing the lowest LCOH in the industry, Verdagy's electrolyzers hold the potential to make green hydrogen a more economically viable and sustainable energy option.
Implications for the Industry
Shell's endorsement of Verdagy's electrolyzers not only validates the companies’ technical capabilities but also opens the door for their widespread adoption in the industry. As leaders in the transition toward renewable energy, Shell and Verdagy are spearheading the development of sustainable solutions that promise to transform the energy landscape. By collaborating on advanced electrolysis technology, these companies are paving the way for a cleaner, greener future.
Accelerating the Transition Toward Renewable Energy
Shell and Verdagy's collaboration demonstrates their shared commitment to accelerating the transition to renewable energy and decarbonizing the economy. By leveraging the potential of green hydrogen production, these companies not only reduce carbon emissions but also create opportunities for long-term growth and development.
Zacks Rank and Key Picks
Currently, SHEL carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Murphy USA Inc. (MUSA - Free Report) , Archrock, Inc. (AROC - Free Report) and Sunoco LP (SUN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA is valued at around $8.72 billion. In the past year, the company’s shares have surged 62.5%.
MUSA markets retail motor fuel products and convenience merchandise, operating retail stores under the brands Murphy USA, Murphy Express and QuickChek.
Archrock is valued at $3.07 billion. The company currently pays a dividend of 66 cents per share, or 3.36%, on an annual basis.
AROC, together with its subsidiaries, works as an energy infrastructure company in the United States. The company operates under two segments — Contract Operations and Aftermarket Services.
Sunoco is valued at $6.08 billion. It is a major wholesale motor fuel distributor in the United States, distributing over 10 fuel brands through long-term contracts with more than 10,000 convenience stores, ensuring consistent cash flow.
SUN’s extensive distribution network across 40 states provides a robust and reliable source of income, and the Brownsville terminal expansion will add to its revenue diversification.