New Delhi /PRNewswire/ - Hero Future Energies (HFE), a leading developer of Solar, Wind and Hybrid/BESS projects, and Ohmium International, a company specialized in the design, manufacture, and deployment of PEM Electrolysers, have announced a strategic partnership to develop and build 1000 MW of Green Hydrogen production facilities in India, the UK and Europe.
Ohmium will be responsible for the design, construction, and operations and maintenance of the hydrogen production facilities. Hero Future Energies will be the Build – Operate – Own partner, generating green energy to power the production facilities and assuming overall ownership of the assets.
Commenting on this partnership, Srivatsan Iyer, Global CEO, Hero Future Energies said: "We are very pleased to partner with Ohmium – their patented electrolyser technology enables them to design and construct hydrogen production facilities faster and more efficiently than anyone else. By coupling Ohmium's hydrogen expertise with HFE's knowledge and experience as a Renewable Energy developer, we will meet and perhaps even exceed our ambitious target of 1000 MW".
Arne Ballantine, CEO, Ohmium International continued: "This giga-scale effort between Hero Future Energies and Ohmium is going to advance the global Green Hydrogen landscape. Hero Future Energies is one of the leaders and innovators in renewable energy, with a proven track record of success. Together we'll bring safe, secure and cost-effective green hydrogen energy to not only India, but also the world."
Srivatsan Iyer, Global CEO, Hero Future Energies added: "This partnership will give a strong push to the development of a robust Green Hydrogen Ecosystem. As countries and businesses strive to achieve their net zero goals, Green Hydrogen can be a potential game changer, particularly when it comes to decarbonization in hard-to-abate sectors such as the mobility sector. This is a forward-looking partnership which is perfectly aligned with HFE's vision as an integrated energy transition solutions provider. It will enable us to expand our international footprint as we penetrate new markets".
Hydrogen is an essential element used in steel and chemical production, fertilizer production, refineries, and many other processes. The majority of hydrogen is made from fossil fuels, making it a heavy carbon polluter. Cost effective green hydrogen – no-carbon hydrogen made from water electrolysis using renewable energy sources – is now possible with the latest cost reductions in renewable energy and Ohmium's technology solutions.
The world must transition to Green Hydrogen to meet its Net-Zero emission targets. Capitalizing on this, India's National Hydrogen Mission firmly positions the country as a global leader in the large-scale production and export of Green Hydrogen. India's demand for Hydrogen is estimated to increase 5-fold and reach nearly 28 MTPA by 2050.
About Hero Future Energies
HFE is a third-generation entrepreneurial company and part of the Munjal family's Hero Group. HFE was established in 2012 as a deliberate strategic decision by the Group to enter the high growth market of power generation from clean and renewable sources of energy. Its current portfolio includes 1.7 GW of commissioned wind and solar power projects with an additional 1.5GW under construction or planned. The Company has a 2022 growth target of 3.5GW of installed and operating capacity. Alongside traditional renewable projects of solar and wind, HFE will look to deliver futuristic renewable energy projects utilizing new technologies including battery storage and floating solar.
About Ohmium International Inc.
Ohmium International enables industries to deploy green hydrogen for a sustainable future. The company's suite of electrochemical products enables customers to achieve maximum value in industrial, transportation and energy projects. Ohmium is headquartered in the United States with R&D centers in Silicon Valley (USA) and Bangalore (India), and manufacturing center in India.