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

Rhea-AI Summary

Verdagy, a green hydrogen electrolysis company, announced a leadership transition as CEO Marty Neese departs to join Ballard Power Systems (NASDAQ: BLDP) as CEO. Rahul Bammi, who has served as Verdagy's President since 2023, will take over as CEO. Bammi brings 25 years of experience in scaling global technology and clean energy businesses, having previously led go-to-market initiatives and capital raising at Verdagy. Under Neese's four-year leadership, Verdagy developed innovative Dynamic Alkaline electrolyzers. The company is backed by notable investors including Khosla Ventures, Temasek, and industry partners such as Shell, TDK Ventures, BHP, and Yara.

Positive

• Appointment of experienced leader Rahul Bammi with 25 years in technology and clean energy
• Strong backing from major investors and industry partners including Shell, Temasek, and Khosla Ventures
• Successful development of innovative Dynamic Alkaline electrolyzers under previous leadership
• New CEO has track record of raising over $2 billion in capital

Negative

• Departure of successful CEO Marty Neese who led company development for 4 years
• Potential disruption in leadership continuity during critical growth phase

Insights

Executive Leadership Analyst

Ballard Power Systems gains experienced green hydrogen leader as new CEO, signaling strategic focus on hydrogen technology.

This leadership transition represents a strategic talent acquisition for Ballard Power Systems. Marty Neese brings valuable experience from successfully leading Verdagy, a company at the forefront of green hydrogen electrolysis technology. His appointment suggests Ballard is doubling down on its hydrogen fuel cell strategy with leadership that has proven expertise in scaling innovative hydrogen solutions.

Neese's background is particularly relevant as he led Verdagy from its inception to becoming a technology leader in the green hydrogen space. Under his leadership, Verdagy developed its Dynamic Alkaline electrolyzer technology, which the company claims offers unrivaled scalability and the lowest hydrogen production costs globally. This expertise aligns perfectly with Ballard's core focus on hydrogen fuel cell technology.

The timing of this leadership change coincides with increasing global investment in hydrogen infrastructure and growing recognition of hydrogen's role in decarbonization strategies. Ballard appears to be positioning itself to capitalize on this momentum by bringing in leadership with direct experience in complementary hydrogen production technology. This move potentially strengthens Ballard's position in the broader hydrogen value chain by adding expertise in the upstream production segment to complement its existing downstream fuel cell applications.

President of Verdagy, Rahul Bammi appointed CEO

MOSS LANDING, Calif., June 17, 2025 /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 Verdagy
Verdagy 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:
media@verdagy.com

View original content:https://www.prnewswire.com/news-releases/verdagy-announces-ceo-transition-to-lead-companys-next-phase-of-growth-302483959.html

SOURCE Verdagy

FAQ

Who is the new CEO of Verdagy and what is his background?

Rahul Bammi is the new CEO of Verdagy, bringing 25 years of experience in scaling global technology and clean energy businesses. He previously served as Verdagy's President since 2023 and has raised over $2 billion in capital throughout his career.

Why is Marty Neese leaving Verdagy?

Marty Neese is leaving Verdagy to join Ballard Power Systems (NASDAQ: BLDP) as CEO after serving as Verdagy's CEO for four years.

What are Verdagy's main products and technologies?

Verdagy specializes in green hydrogen electrolysis and has developed innovative Dynamic Alkaline electrolyzers, which the company claims provide unrivalled scalability and the lowest cost of hydrogen production.

Who are Verdagy's major investors and partners?

Verdagy is backed by prominent investors including Khosla Ventures, Temasek, and industry partners such as Shell, TDK Ventures, BHP, and Yara.

What has Rahul Bammi accomplished at Verdagy before becoming CEO?

As President of Verdagy, Bammi led all go-to-market initiatives, developed a global pipeline of hydrogen projects and customers, and led capital raising efforts.