Gensol Engineering to Lead India's First Bio-Hydrogen Project with ₹164 Crore Contract
Key Ideas
  • Gensol Engineering secured a ₹164 crore contract with Matrix Gas & Renewables Ltd. for India's inaugural bio-hydrogen project.
  • The project aims to convert 25 tons of bio-waste into 1 ton of hydrogen daily using GH2-PREGS technology.
  • The initiative supports India's National Green Hydrogen Mission and is scheduled for completion in 18 months.
  • Following the announcement, Gensol Engineering's share price surged by over 3 percent.
Gensol Engineering Limited has made a significant stride in the renewable energy sector by securing a contract worth ₹164 crore with Matrix Gas & Renewables Ltd. for India's first bio-hydrogen project. This project, scheduled to be completed in 18 months, will focus on the conversion of 25 tons of bio-waste into 1 ton of hydrogen daily. The technology employed for this endeavor is GH2-PREGS, which has garnered attention for its efficiency and eco-friendly nature. Moreover, this initiative aligns with India's National Green Hydrogen Mission, emphasizing the country's commitment to sustainable energy practices. The news of this contract has had a positive impact on Gensol Engineering Limited, as evidenced by the over 3 percent surge in their share price. This development signifies a major step towards promoting green technology and advancing the use of hydrogen as a clean energy source in the Indian market.
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