Under the new agreement, the Norwegian electrolyser maker will license its alkaline technology to Thermax, supply its current and future stacks, and provide technical support.

Thermax will have exclusive rights in India to supply, install, commission, and service HydrogenPro-based technology, with plans to get started right away.

As part of the technology transfer, Thermax will build and design system components in India, which will be integrated with the HydrogenPro stack. The duo will also look to develop joint systems for future demand.

The partnership’s first step will be establishing a state-of-the-art short-stack test station at Thermax’s Pune facility.

The agreement follows similar trends of electrolyser manufacturers signing license agreements as they pursue a low-capex expansion in a market with high growth potential.

Jarle Dragvik, CEO of HydrogenPro, said the deal offered the firm an “important entry” into India and a “solid market foothold”.

“Our goal is to enable the decarbonisation of industry through the use of green hydrogen, particularly in sectors with few or no renewable alternatives to current operational practices,” he added. “India is striving to decarbonise their industries and modernise power generation, and this closely aligns with our technology.”

Thermax Managing Director and CEO, Ashish Bhandari, said, “This collaboration enables us to immediately offer market-ready alkaline technology-based solutions for deployment across industries in India.”

This comes as the second electrolyser license agreement secured by Thermax. Last year, it inked a deal to bring Ceres’ solid oxide electrolysis (SOEC) systems into India under a non-exclusive deal.