Thermax Limited will develop and bring to market Ceres Power’s solid oxide electrolysis cell (SOEC) systems in India under a new license agreement.
The systems license contract allows Thermax to non-exclusively manufacture Ceres’ SOEC system technology, including designs for electrolyser module systems that will be developed and sold by the Indian firm. The agreement includes license fees and product royalties to be received by Ceres.
Thermax plans to establish a manufacturing facility for the electrolyser systems, advance the supply chain and localise critical components.
The Indian National Green Hydrogen Mission has provided $2.3bn in incentive funding to enable the production of 5 million tonnes per year of green hydrogen by 2030, ahead of its 2070 Net Zero goals.
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