Thermax and Australia Based FFI Collaborate To Enter Green Hydrogen Market in India

Thermax, an energy and environmental solutions provider, announced its entry into the green hydrogen market on Friday in collaboration with Australia-based Fortescue Future Industries (FFI).

According to a statement, Thermax and FFI intend to investigate opportunities to jointly develop fully integrated green hydrogen projects for commercial and industrial customers in India.

Thermax Ltd, a provider of energy and environmental solutions, and Fortescue Future Industries (FFI), an Australia-based green energy and green technology company, have signed a memorandum of understanding (MoU) to investigate green hydrogen projects in India, including new manufacturing facilities.

It stated that industrial-scale production of green hydrogen would be a significant step forward in decarbonizing difficult-to-abate industries in India, such as refineries, fertilisers, and steel.

The agreement between Thermax and FFI also considers the parties' potential collaboration in the development of new manufacturing facilities to support green energy projects in India.

The Performance Linked Incentive (PLI) scheme, which is part of India's National Green Hydrogen Mission, could be used to establish any new manufacturing capacity.

In addition to meeting domestic requirements, electrolysers and subsystems may be exported internationally.

The collaboration will benefit from Thermax's extensive experience in EPC and supply chain.

Ashish Bhandari, MD & CEO, Thermax, said, "The collaboration with Fortescue Future Industries is perfectly timed to leverage the massive potential of the Indian green energy market that presents a multitude of opportunities, backed by favourable policies and incentives."

FFI CEO Mark Hutchinson said, "This MOU with a company of such high standing will help us in our mission to eliminate emissions."