TKIL Industries Acquires Stake in Sohhytec SA for Green Hydrogen Production
Key Ideas
- TKIL Industries has acquired a stake in Swiss company Sohhytec SA to access technology for producing green hydrogen from solar energy directly.
- The company plans to set up infrastructure for storing and filling up vehicles with pressurized hydrogen, targeting industries like automobile and steel plants.
- They aim to create up to 100 MW of green hydrogen capacity and achieve three times growth in revenue to Rs 10,000 crore in the next five years.
- The technology developed by Sohhytec is modular, off-grid, and has the potential for applications beyond just oil marketing companies, with a cost estimation of about Rs 400 per kg.
TKIL Industries, formerly Thyssenkrupp Industries India, has made a strategic move by acquiring a stake in Sohhytec SA, a Swiss company specializing in green hydrogen production using solar energy. This acquisition grants TKIL access to a cutting-edge technology that enables the direct production of green hydrogen. The company's CEO, Vivek Bhatia, revealed plans to establish the necessary infrastructure for storing and refueling vehicles with pressurized hydrogen. Discussions are already underway with oil marketing companies to introduce hydrogen-based retail facilities. Automobile manufacturers have developed engines capable of running on hydrogen, indicating a shift towards eco-friendly transportation solutions. The technology, pioneered by Sohhytec, harnesses solar energy to produce green hydrogen and offers potential applications in various industries beyond just transportation. Although cost challenges exist, with production estimates around Rs 400 per kg, the technology's scalability and modular nature present opportunities for wider adoption. TKIL aims to expand its green hydrogen capacity to 100 MW and enhance its revenue significantly over the coming years. This strategic investment aligns with the company's vision for growth and diversification into sustainable energy solutions.