Ohmium is gearing up to unveil several projects in India over the next few quarters, indicating significant expansion plans in the country – EQ
In Short : Ohmium is gearing up to announce multiple projects in India in the coming quarters. This initiative underscores the company’s active involvement in the country’s energy sector. The upcoming projects are expected to contribute to India’s renewable energy landscape, supporting the nation’s efforts in sustainable development and clean energy transition.
In Detail : Rasool Aghatehrani, chief strategy and marketing officer of Ohmium, a maker of green hydrogen eletrolysers with headquarters in the US, the company aims to launch a number of projects in India in the upcoming quarters. In order to reach a 2 GW capacity, he claimed that the company is actively increasing its annual manufacturing capacity in India. The expansion entails building new facilities as well as upgrading ones that already exist in Bangalore and Chennai to suit our growth goals.
Aghatehrani continued, “Ohmium is investing in an electrolyser manufacturing facility in India that leverages the R&D centres in Bangalore, India, and the Silicon Valley in the US, driving innovation in proton exchange membrane (PEM) electrolyser systems. This comes after a successful $250 million Series C fundraise earlier this year. The $250 million, which was spearheaded by TPG Rise Climate, will enable us to further expand our manufacturing capabilities, R&D initiatives, and client project assistance.
In order to fulfil the rising market demand in India, the US, Europe, and the Middle East, Aghatehrani continued, the company would be able to update its manufacturing facilities and increase its yearly manufacturing capacity to 2 GW as a result. With projects currently under construction in India, Europe, and the US for a variety of uses, including electricity, energy storage, transportation, and refinery, the company has a global project pipeline of more than 2 GW.
The largest-ever deal for PEM electrolysers in India was struck in June 2023 by Ohmium and NTPC, a state-run power company. This calls for the use of the company’s electrolysers in up to 400 MW of projects for industrial and commercial purposes, including those involving ammonia, transportation, and power. In accordance with the larger objective of achieving 60 GW of renewable energy capacity by 2032, this relationship with NTPC will assist NTPC realise its ambitious target to achieve 5 GW of renewable energy for green hydrogen and ammonia production.