HydrogenPro As has signed a memorandum of understanding (MoU) with Larsen & Toubro (L&T) for a partnership to tap the emerging green hydrogen market.
Under the agreement, L&T and HydrogenPro will jointly set up a joint venture in India for GW-scale manufacturing of Alkaline Water Electrolysers based on HydrogenPro technology for the Indian market and other markets.
The proposed joint venture in India is in line with L&T’s strategic vision to be present across the green energy value chain and HydrogenPro’s strategy of establishing a global manufacturing footprint to maintain cost leadership and ensure local presence.
Mr Subrahmanyan, CEO & MD of L&T, said, “This will be a win-win partnership given our extensive relationship across the energy industry, deep EPC experience in this sector and successful ongoing collaborations with many MNCs and HydrogenPro’s focus to stay ahead of the curve as far as technology leadership is concerned.”
Mr Elling Nygaard, CEO of HydrogenPro said that the partnership would help establish HydrogenPro in the Indian market, which is a huge and growing energy market with tremendous potential for hydrogen-based solutions.
Mr Subramanian Sarma, Director at L&T, added, “The Green Hydrogen industry is at a nascent stage with an immense potential to offer great opportunities. This partnership is the right step in creating a clean, green and sustainable future.”