Thermax, a prominent energy and environment solutions provider, has announced a strategic partnership with Ceres Power to accelerate the deployment of advanced solid oxide electrolysis cell (SOEC) technology for green hydrogen production. This partnership includes a non-exclusive, global license agreement for Thermax to manufacture, sell, and service stack array modules (SAM) and other electrolyser modules based on Ceres' innovative SOEC technology. Thermax will leverage its expertise in heat integration and waste heat recovery to develop efficient pressurized SAM and other modules, targeting industries such as ammonia/fertilizer, steel, refineries, and chemical production. The collaboration is aimed at providing up to 25% more efficient solutions compared to existing electrolysis technologies, making use of steam generated from industrial processes for decarbonization. Thermax plans to establish a manufacturing facility, build the supply chain, and localize critical components to enable large-scale deployment of SOEC systems, positioning themselves as a key player in the global market. This move aligns with India's ambitious goal of producing 5 million metric tonnes of green hydrogen by 2030, reflecting the country's focus on renewable energy sources. Ashish Bhandari, Managing Director & CEO of Thermax, expressed enthusiasm about bringing SOEC technology to India, emphasizing the company's commitment to sustainable solutions and decarbonization. The positive sentiment surrounding the partnership is supported by Thermax's strong financial performance, with a 96.68% growth in net profit in Q1 FY25 and a 4% increase in stock price on the BSE, indicating investor confidence in the collaboration's potential and Thermax's strategic direction towards green energy solutions.