Adar Poonawalla-backed homiHydrogen, a joint venture of h2e Power Systems, BlueBasic AMA Engineering (H2energy, Italy), and Greenstat Hydrogen India, has announced plans to set up an electrolyzer factory with a capacity of 1.5 GW per year in India.
The $50 million project will start production in 2023 and cater to the domestic and export markets. It is expected to create about 300 new green jobs.
Siddharth R Mayur, founder and managing director of h2e Power, said, “homiHydrogen is an initiative to build ethical, sustainable, inexpensive and state-of-the-art electrolysers that will cater to the domestic needs and exports. homiHydrogen stands unique with its focus not only on electrolyzers but also critical components like rectifiers and transformers, R&D and last-mile solutions.”
The venture will manufacture alkaline, anion exchange membrane (AEM), proton exchange membrane (PEM), and solid oxide electrolyzers (SOEs).
“An offset of h2e Power System, India’s first green hydrogen and fuel cell company, homiHydrogen harbors value and expertise to become the first company to provide all four commercially available electrolyzers,” stated homiHydrogen.
homiHydrogen also announced its association with Oil India Ltd, the nation’s second-largest oil and gas explorer, to build an effective green hydrogen value chain in the country.
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