Adar Poonawalla-backed homiHydrogen, a joint venture between h2e Power Systems Private Limited, BlueBasic AMA Engineering (H2energy, Italy) and Greenstat Hydrogen India, has begun its journey to a green tomorrow with an intent to set up a 1.5GW per annum manufacturing facility for electrolysers in Pune.
“Budgeted at $50 million, the new project is a stepping stone to make India a hub for green hydrogen technologies and contribute to the NetZero commitment while creating about 300 new jobs.”
An offset of India’s first end-to-end fuel cell and electrolyser company, h2e Power System, homiHydrogen, harbors value and expertise to provide all the four commercially available electrolysers. The venture will manufacture state-of-the-art, efficient and cost-effective Alkaline, AEM, PEM and SOE electrolysers in India. HomiHydrogen has presence in the entire value chain of electrolysers required for producing green hydrogen.
Siddharth R Mayur, Founder and Managing Director of h2e Power said, “homiHydrogen is an initiative to build an ethical, sustainable, inexpensive and a state of the art electrolysers that will cater to the domestic needs and exports. homiHydrogen stands unique with its focus not only on electrolysers but also critical components like rectifiers and transformers, research and development and last mile solutions. The name, homiHydrogen, is a tribute Homi Jehangir Bhabha.”
Commenting on the joint venture, Sturle Pedersen, Chairman of GreenStat Hydrogen India said, “GreenStat is excited to be a partner in India’s journey to become a green hydrogen hub. homiHydrogen is distinctive as we will produce a bouquet of electrolyser technologies, catering to a wide range of market segments. This joint venture reinforces our commitment to Indo-Norwegian partnership.”
Prashant Kamath, Managing Director, BlueBasic Engineering India said, “We are extremely proud that we are able to bring global technologies to India and manufacture them with the local Indian innovation to create a built to last product. BlueBasic is looking forward to contribute to homiHydrogen with the most innovative electrolyser technologies, which will be a fitting tribute to Bhabha.”
homiHydrogen will start production in 2023 and will deliver a 100 per cent Made in India product realising the vision of an Atmanirbhar India. The company also announced it association with OIL India Ltd, to build an effective green hydrogen value chain in the country, progressing the vision further.