Gensol Engineering to establish first hydrogen valley in Pune

11 Sep 2024 , 03:22 PM

On Wednesday, September 11, Gensol Engineering Ltd. informed the bourses that it has received a project to establish India’s first Green Hydrogen Valley project in Pune.

Gensol will launch the project in partnership with Matrix Gas & Renewables, a green hydrogen infrastructure provider and natural gas aggregator.

Matrix will build, own, and operate the green hydrogen production plant to supply green hydrogen to the speciality chemical sector over a 20-year period. 

The companies were chosen as the top bidders in a competitive tender on both technical and commercial grounds.

Gensol Managing Director Anmol Singh Jaggi stated that the company will offer Green Hydrogen to the speciality chemical sector in Pune on a continuous basis in order to promote India’s Green Hydrogen economy.

The National Chemicals Laboratories (NCL) in Pune is facilitating this green hydrogen valley.

The companies can develop green hydrogen generation concepts, applications, and R&D facilities.

Gensol and Matrix share common promoters and will continue to collaborate on Green Hydrogen and its derivatives, such as Green Steel and Green Ammonia, according to Gensol’s exchange filing.

At around closing, Gensol Engineering was trading 1.33% higher at ₹920.45, against the previous close of ₹908.35 on NSE. The counter touched an intraday high and low of ₹936.95, and ₹912.55, respectively.

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