Partnership with Ceres Power to Advance Solid Oxide Electrolysis Technology
Thermax Ltd. has revealed plans for a substantial investment to enhance its green hydrogen production capabilities by establishing a solid oxide electrolyser manufacturing facility in India. This initiative follows the company’s strategic collaboration with UK-based Ceres Power Ltd., aimed at leveraging solid oxide electrolysis cell (SOEC) technology to produce green hydrogen on a large scale.
Commitment to Manufacturing and Localisation
As part of this collaboration, Thermax will be responsible for manufacturing, selling, and servicing stack array modules using Ceres’ SOEC technology. Over the next two years, the company intends to construct the manufacturing plant, develop a robust supply chain, and localise critical components to support the green hydrogen initiative. CEO Ashish Bhandari indicated that Thermax is prepared to invest hundreds of crores in the project, with investment levels adjusted according to each stage of the venture’s progress.
Green Energy Focus to Drive Future Growth
Currently, 70% of Thermax’s order book is dedicated to green energy projects, including solutions for industries like steel, petrochemicals, and fertilisers, which are challenging to decarbonise. Bhandari emphasised the pivotal role of solid oxide technology in accelerating India’s green transition. While acknowledging some short-term impacts on bio-CNG and other project sectors, he expressed confidence that the shift towards green energy would enhance profit margins in the long run.
