Gensol Engineering and Matrix Gas & Renewables have successfully emerged as the lowest bidders for the Engineering, Procurement, and Construction (EPC) contract to develop India’s first Bio-Hydrogen project.
The project, intended for a leading power generation company, will convert 25 tons of biowaste into 1 ton of hydrogen per day. Valued at Rs 164 crore, it has an 18-month completion timeframe and is part of the National Green Hydrogen Mission, which focuses on biomass-to-green hydrogen generation.
Matrix Gas & Renewables is recognized for its rapid development in green hydrogen infrastructure and natural gas aggregation. Partnering with Westinghouse USA, Gensol will utilize Westinghouse’s patented technology, which includes a pre-gasification plasma-induced radiant energy-based gasification system (GH2-PREGS). This high-tech system will process 25 tons per day (TPD) of biowaste to produce 1 ton per day (TPD) of green hydrogen.
“We are honored to emerge as the lowest bidder for EPC of India’s first biomass-to-green hydrogen project for India’s leading power generation company,” expressed Anmol Singh Jaggi, chairman and managing director of Gensol Engineering.
Volume and Profit Highlights
In the quarter ending June 2024, Gensol reported a consolidated net profit of Rs 20.48 crore, a significant increase from Rs 10.24 crore in the same quarter the previous year. Sales have also risen by 104.11%, totaling Rs 295.15 crore in Q1 FY25 compared to Q1 FY24.
