TKIL Industries (formerly thyssenkrupp Industries India), a leading industrial engineering and manufacturing company, has made an undisclosed strategic investment in Switzerland-based SoHHytec SA for foraying into the green hydrogen sector.
SoHHytec is a cutting-edge innovator and solutions provider in the green hydrogen field. It uses proprietary artificial photosynthesis (photo-electrolysis) technology to produce green hydrogen from renewable energy sources, including solar and wind, for industrial applications.
SoHHytec is globally the most cost-efficient technology for producing Green Hydrogen.
In addition to this investment, TKIL Industries will be the exclusive partner in India for SoHHytec to manufacture and supply specific equipment and machinery besides installing Green Hydrogen projects.
TKIL Industries will also support SoHHytec in developing the supply chain for manufacturing Green Hydrogen equipment in India.
Vivek Bhatia, Managing Director and CEO, TKIL Industries said the joint venture is poised to accelerate green hydrogen production in India and contribute meaningfully to the nation’s clean energy objectives.
The market response has been fantastic and we are confident of announcing our first orders shortly, he said.
Dr Saurabh Tembhurne, CEO and founder, SoHHytec said the strategic investment and collaboration with TKIL will make green hydrogen a viable and scalable energy solution for India.
SoHHytec’s technology can offer the lowest cost of $1 per kg of green hydrogen produced.
The artificial photosynthesis process is proven and highly flexible, providing off-grid capability and synchronizing with solar and other green energy power sources. SoHHytec’s solution is also recyclable and can be deployed majorly using locally sourced materials, he said.
The green hydrogen produced will serve critical industrial sectors such as steel, fertilizers, bio-chemicals, cement and transportation.
The technology already offers around 50 per cent cost reduction on a per km basis compared to conventional ICE vehicles.
TKIL Industries and SoHHytec will work to develop and deploy cutting-edge hydrogen production projects in key industrial regions across India.
India has committed to scaling its green hydrogen production to about 7.5 million tonnes annually by 2030 to meet domestic energy demands to support the Green Energy transition.