According to a non-binding Memorandum of Understanding signed by Ballard Power Systems and the Adani Group, the two companies will evaluate a joint investment case for the commercialization of fuel cells for various mobility and industrial applications in India.
Both parties have agreed to look into ways to work together, including the possibility of collaborating on fuel cell manufacturing in India as part of the MOU.
There will be a focus on green hydrogen production, as well as green electricity generation and manufacturing of electrolyzers and wind turbines as part of Adani New Industries Limited’s efforts under this MOU.
“Green hydrogen is the fuel of the future and fuel cells will be a game-changer in India’s energy transition,” stated Vneet S Jaain, Director, Adani New Industries Limited. “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.”
“We are excited to partner with Adani given Mr. Gautam Adani’s inspiring leadership and the highly complementary assets across the group portfolio,” said Randy MacEwen, Ballard’s President & CEO. “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.”
