Business tycoon Gautam Adani led Adani Group on Monday announced that they have signed an MoU with Canada’s alternate energy major Ballard Power Systems. The non-binding MoU will evaluate an investment case for the commercialization of hydrogen fuel cells in mobility and industrial application in India. Under the MoU, both companies will examine various options to cooperate and collaborate for fuel cell manufacturing in India.
Director of Adani New Industries Limited (ANIL) Vneet S. Jaain said,”Our ability to build a world-class green hydrogen value chain will be critical in facilitating the energy transition and we are excited to partner with Ballard, a global leader in fuel cell technology, to create a shared fuel cell ecosystem in India. We will be deploying innovative use cases across our businesses with fuel cell trucks, mining equipment, marine vessels, off-road vehicles, and critical industrial power. We will shape the industry through this strategic collaboration.”
Adani group has aimed to be one of the largest hydrogen producers in the world through accelerated investment in renewable energy. With this MoU Adani, New Industries Limited will focus on the generation of green hydrogen, green electricity generation, manufacture electrolyzers, and wind turbines.
Ballard’s President and CEO, Randy MacEwen said, “India represents a new growth opportunity for Ballard, and we look forward to working with the Adani group to support and accelerate their energy transition and decarbonization goals.”
Ballard Power Systems has the vision to deliver fuel cell power for a sustainable planet. Their zero-emission PEM fuel cells are enabling electrification of mobility of buses, commercial trucks, marine vessels, passenger cars, and forklift trucks.