Advik will have the majority position in the 51:49 joint venture, while Pure Hydrogen will hold the remaining portion. The new company intends to sell, transport, and distribute hydrogen throughout India. The firm will also be able to sell Hydrogen Fuel Cell Electric Vehicles (HFCEVs) buses and trucks, putting India at the forefront of global hydrogen production, sale, and delivery.
This is Advik's second joint vent re in the field of hydrogen fuel technology. In early January, it was announced that it will produce items and components for hydrogen cars and powered products for the Indian and global markets.
The component manufacturer claims that with both joint ventures, it would be at the forefront of taking a leading position in India for the development and manufacturing of a hydrogen ecosystem ranging from hydrogen fuel to hydrogen powered generating units and hydrogen powered automobiles.
The new collaboration intends to enhance India's heavy vehicle sector by delivering green hydrogen fuel and hydrogen fuel cell vehicles (HFCEVs) to help cut emissions and costs. It also intends to bid on government contracts for bus supply and hydrogen refuelling. There is also the possibility that the PowerH2 generators will be used as an alternative to diesel-powered generators.
Advik's Managing Director (MD), Aditya Bhartia, stated, Advik is thrilled to be collaborating with Pure Hydrogen on the development of India's hydrogen eco-system. It is encouraging to see Pure Hydrogen establish various hydrogen manufacturing and transportation initiatives in Australia. The Indian government is focused on hydrogen as a fuel, with the goal of becoming a major production and export centre. In addition to green hydrogen, this joint venture will use technologies such as turquoise hydrogen, which is created by methane pyrolysis, and emerald hydrogen, which is made from trash. We hope to be an end-to-end solution provider for the hydrogen ecosystem through this partnership, from hydrogen generation through hydrogen-powered mobility and stationary solutions.
Pure Hydrogen's Scott Brown, Managing Director (MD), stated, We are pleased to be collaborating with Advik in India, and we believe that Pure Hydrogen's expertise in the hydrogen ecosystem will provide the JV with a significant strategic advantage in India and a significant head start in becoming a leading player here. India is clearly a large market, and it makes excellent business sense to create a presence in India with a well-established and renowned local firm. We believe India will be a world leader in the hydrogen economy in the future, and our joint venture is a strategic match for our worldwide business plan.
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