In the news release, VERDAGY AND PETRON SCIENTECH SIGN AGREEMENT TO PRODUCE BIOFUELS INCLUDING SAF, e-METHANOL AND BIO-CHEMICALS/POLYMERS DEPLOYING VERDAGY GREEN HYDROGEN ELECTROLYZERS, issued 22-Jan-2025 by Verdagy over PR Newswire, we are advised by the company that the headline and full document has been updated.The complete, corrected release follows:

PETRON SCIENTECH SELECTS VERDAGY TO DEPLOY 320 MW OF GREEN HYDROGEN ELECTROLYZERS IN ITS BIO-REFINERY TO PRODUCE SAF, e-METHANOL AND BIO-CHEMICALS

Verdagy chosen because of its leading performance, LCOH and design that scales cost-effectively to gigawatt-scale projects

MOSS LANDING, Calif., Jan. 22, 2025 /PRNewswire/ -- Verdagy, a leading green hydrogen electrolysis company, announced it has entered into a strategic partnership with Petron Scientech, a company with over thirty-five years of experience in renewable sustainable chemical and biofuel process technologies. Petron will use 320 MW of Verdagy's eDynamic® electrolyzers to produce over 45 kilo tons per annum (KTA) of green hydrogen for integration into its first biorefinery project for production of SAF, renewable diesel and e-Methanol, resulting in a CO2e reduction of 500 KTA or over 15 megatons by green hydrogen alone and combined with biorefinery resulting in reduction of 2 megatons/year or over 60 megatons of CO2e through the project lifetime.

"Petron is developing several sustainability focused, low carbon intensity score, biorefineries reducing millions of tons of carbon emissions compared to fossil feed stock-based fuels, chemicals and plastics. The company is engaged with leading airlines for offtake of SAF made using Petron's ethanol and bio-ethylene technologies and with shipping companies for offtake of e-Methanol, produced using green hydrogen. We were seeking a green hydrogen and oxygen solution partner that integrates well with our biorefineries/renewable chemicals, has leading performance and the technology expertise to scale to multiple GWs in a capital efficient manner. Verdagy fits the bill perfectly, and we are pleased and look forward to collaborating with the company on several projects globally," said Petron Scientech's CEO Yogi Sarin.

"We're excited to collaborate with Petron to grow the SAF and biofuels markets. Verdagy's mission is to provide green hydrogen at fossil parity costs, without subsidies, within five years, to drive mass adoption and to meaningfully lower carbon emissions. Our electrolyzers pair seamlessly in real-time with renewable intermittent energy sources, and our industry-leading efficiency and operating range maximize asset utilization, leading to the lowest levelized cost of hydrogen (LCOH) in the world today," said Verdagy's CEO Marty Neese.

The two companies are collaborating on several biorefinery projects to produce SAF, e-Methanol and bio-chemicals and polymers. Verdagy opened its 1 GW electrolyzer factory in Silicon Valley in 2024 where the electrolyzers will be manufactured.

About Verdagy

Verdagy manufactures Dynamic AWE electrolyzers that provide the lowest LCOH and highest asset utilization by integrating seamlessly with renewable energy sources, enabling higher hydrogen production, and the smallest footprints through high current densities and market-leading efficiencies. In addition to its Silicon Valley factory, Verdagy operates its hydrogen production plant and R&D facilities in Moss Landing, California where it continues to advance its cutting-edge technologies. www.verdagy.com

About Petron Scientech

Petron specializes in setting up Cellulosic biomass and non-edible grain processing biorefinery projects to produce ethanol, bio-ethylene, bio-chemicals (ethylene oxide / mono ethylene glycol, Methanol), polymers, and various biofuel with co-products projects worldwide. Petron, along with its affiliates and partners brings technology experience in production and full execution of biorefinery projects. Petron with very low carbon intensity ethylene production technology compared to fossil feed stock Ethylene, commands 90% of the global bio-ethylene technology market which is exceptionally low Capex and Opex option compared to fossil feed stock-based Ethylene and is a base material for SAF and global chemicals and polymer industry. www.petronscientech.com

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