homiHydrogen said it will invest $50 million in an electrolyzer manufacturing facility of 1.5 GW per annum capacity in Pune, which will cater to both the domestic and export markets.

The company, which is a joint venture between h2e Power, Blue Basic AMA engineering, and Greenstat Hydrogen India, said it expects the facility to start production in 2023.

homiHydrogen aims to make India a global manufacturing hub for electrolyzers and the production of green hydrogen and green ammonia.

With this facility, homiHydrogen will become the first company to provide all four commercially available electrolyzers, which include efficient and cost-effective alkaline, anion exchange membranes, proton exchange membranes, and solid oxide electrolyzers.

The project is expected to create around 300 green jobs and meet both net-zero commitments and the ambitious green hydrogen targets set by the government of India.

The company has a presence in the entire value chain of electrolyzers required to produce green hydrogen.

“homiHydrogen is an initiative to build an ethical, sustainable, inexpensive & state-of-the-art electrolyzer that will cater to domestic needs and exports. homiHydrogen stands unique with its focus on electrolyzers and critical components like rectifiers & transformers, R&D, and last mile solutions,” Siddharth R Mayur, founder & MD of h2e Power, said.

The company also announced its association with the nation’s second-largest oil and gas explorer, OIL India, to build an effective green hydrogen value chain.

Recently, power solutions provider Cummins said it was collaborating with engineering, procurement, and construction company Tecnimont, the Indian subsidiary of Marie Tecnimont Group, to build what is considered India’s largest proton exchange membrane electrolyzer for GAIL in Madhya Pradesh.

A recent report by government think tank NITI Aayog prescribed ten ways India could emerge as the global hub of green hydrogen and have the world’s highest green hydrogen generation capacity of over 60 GW by 2030.