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L&T, McPhy enter into partnership for Green Hydrogen manufacturing

23 Mar 2023 , 10:19 AM

Larsen & Toubro (L&T) has recently signed a binding agreement with McPhy Energy. McPhy Energy is a well-known French company specializing in electrolyzer technology and manufacturing. 

The agreement sets out a long-term partnership between the two companies aimed at exploring opportunities in the rapidly growing Green Hydrogen market.

McPhy will grant L&T an exclusive license of its pressurized alkaline electrolyzer technology for the manufacture of electrolyzers, including future product upgrades, as part of this collaboration. L&T plans to construct a manufacturing facility in India, capable of producing Gigawatt-scale electrolyzers that use McPhy’s technology. This facility will serve both domestic and international markets.

During the event, Subramanian Sarma, who serves as L&T’s Whole Time Director (Energy), remarked that the energy sector is experiencing a transformative change, with Green Hydrogen emerging as a crucial component of the future energy mix. 

‘We are delighted to have signed this Agreement with McPhy,’ he continued, ‘because it will be a win-win alliance given L&T’s significant presence across the entire value chain of energy manufacturing, EPC, and services, and McPhy’s technology and research leadership in this sector.’

The agreement being proposed is in alignment with L&T’s strategic vision of having a presence throughout the green energy value chain. At the same time, it also supports McPhy’s ambition to broaden its reach beyond the European market.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • L&T Agreement
  • L&T News
  • L&T Stock
  • L&T updates
  • McPhy
  • McPhy Energy
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