homiHydrogen said it will invest $50 million in an electrolyzer manufacturing facility of 1.5 GW per annum capacity in Pune
homiHydrogen is a joint venture of h2e Power Systems in Pune, Greenstat Hydrogen India, and BlueBasic AMA Engineering to establish an Indian electrolysers manufacturing plant.
The JV company stated that it had begun its journey towards a green future with the ambition to set up 1.5 GW per annum manufacturing facility for electrolysers in India. This will benefit both domestic and international markets.
The project has a budget of $50 million and will create approximately 300 new green jobs. According to the official press release, the venture will produce all four types electrolysers in India – alkaline (AEM, PEM, and SOE).
According to the company, homiHydrogen will begin production in 2023. It will produce a 100% ‘Made in India product.
“HomiHydrogen is unique in that it focuses not only on electrolysers, but also on critical components such as rectifiers, transformers and R&D. homiHydrogen’s name is a tribute the great Indian scientist Homi Jehangir Bhabha,” Siddharth Mayur, founder, managing director of h2e Power (a Pune-based green hydrogen company that is also part the Poonawalla Group), said.
The company also announced its association to OIL India, India’s second largest national oil and gas exploration company, in order to create a green hydrogen value chain.