The share price of Ducon Infratechnologies increased by 2.69 percent to Rs 22.90 after the company announced the formation of a new business division, Hydrofule, which will focus on reducing the cost of producing Green Hydrogen.
Ducon Infratechnologies has established a new business division, Hydrofule, under its wholly-owned subsidiary in the United States to conduct research and development on a large-scale, cost-effective, solar-powered Green Hydrogen Electrolyzer with a conversion efficiency of at least 70%.
Green Hydrogen is produced by splitting water into hydrogen and oxygen through an electrolyzer using renewable energy derived from wind or solar sources. Current energy-to-hydrogen electrolyzers have an efficiency of over 70 percent, however they do not produce Green Hydrogen because they require electricity derived from fossil fuels.
In contrast, the existing efficiency of Solar to Hydrogen Electrolyzers, which produce green hydrogen, are approximately 20%, according to a company statement. As a result, the Green Hydrogen business has not been commercially feasible.
Hydrofule’s research will concentrate on reducing the cost of Green Hydrogen production by increasing the Photovoltaic-Electrolysis system’s efficiency by limiting the water splitting voltage and installing highly efficient electrocatalysts in the electrolyzer.
Hydrofule intends to develop a prototype with hybridization of semiconductor oxide photoelectrodes, noble metals, and their nanocomposites that can provide enhanced electron mobility and photostability for improved electrochemical performance and a solar-to-hydrogen conversion efficiency greater than 70 percent.
Arun Govil, chairman of Ducon, stated that this new business will be headquartered in the company’s wholly-owned subsidiary in the United States and patent applications will be filed as soon as possible. As the Indian government has ambitious plans for India to become a leader in Green Hydrogen production, we will make substantial investments in R&D over the next few years to capitalize on this transformative Clean Technologies opportunity by developing the most cost-effective solar hydrogen electrolyzer.
The global capacity for water electrolysis technologies is projected to reach 104.6 GW by 2031, expanding at a compound annual growth rate (CAGR) of 62.6 percent, and the global Green Hydrogen market, which was $0.3 billion in 2020, is projected to reach $9.8 billion by 2028. “Green hydrogen will be critical to our future, since it will be a key enabler of the worldwide transition to sustainable energy and net-zero emissions if it can be produced at a lower cost than at present,” Govil said.
Ducon Infratechnologies’ consolidated net income increased 383.1 percent to Rs 1.67 crore in Q4 FY22, despite a drop of 3.9 percent in net sales to Rs 96.18 crore.
Ducon Infratechnologies is a technological business for fossil fuels and clean coal. It offers turnkey Flue Gas Desulfurization (FGD) systems for coal, heavy fuel oil (HFO), and pet coke-fired power boilers throughout India and nearby regions.
