Larsen & Toubro inks agreement with H2Carrier

13 Jan 2023 , 02:12 PM

Larsen & Toubro on Friday has announced the signing of a Memorandum of Understanding (MoU) with the Norway-based H2Carrier (H2C).

The agreement is to co-operate towards developing floating green ammonia projects for industrial-scale applications with an aim to decarbonize the global economy. H2C has proven expertise in developing and integrating Power-to-X (PtX) projects based on affordable, often stranded, non-commercial renewable power. Under the terms of the MoU, L&T will become a partner for EPCIC of the topsides for H2C’s floating process plants. 

According to the filing, H2C plans to build the P2XFloater hull at yards in Asia and L&T will design and fabricate the topside process and utility modules to produce Green Hydrogen & Green Ammonia, including Electrolysers, Nitrogen Generation plant, and Ammonia Synthesis unit. Installation of the topsides modules on the hull and its integration can be customised as per location preferences, i.e., can be carried out in India or in other geographies.

H2C is the designer and owner of the proprietary floating energy production and storage system P2XFloater™, an industrial scale floating green hydrogen and green ammonia facility. 

The concept is based on proven floating production, storage, and off-take technologies from the oil & gas industry in combination with an e-control system capable of balancing renewable electricity feedstock through a fully integrated electrolyser and Haber-Bosch system. H2C will build, own/lease and operate a fleet of P2XFloaters.

At around 2:24 PM, Larsen & Toubro was trading at Rs2147 per share lower by 0.61% on the BSE.

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