Page 140 - CW E-Magazine (17-10-2023)

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GEARED FOR GROWTH

Thyssenkrupp Nucera opens Mumbai offi ce to tap

chlor-alkali and hydrogen markets

German electrolyser manufacturer close relationships with our customers seph, Executive Director – Finance of
Thyssenkrupp Nucera has opened here, now for more than 40 years. With Thyssenkrupp Nucera India.
an offi ce in Mumbai as it expands its our new location, we are strengthen-
chlor-alkali business and development ing our presence with our customers. With good conditions for renewable
of green hydrogen. It will enable us to respond even better power and high ambitions to decarbo-
to our customer’s various needs and nise its growing economy, India has been
The new offi ce featuring a sales demands,” said Mr. Vaidyanathan pegged as a future green hydrogen hot-
and engineering competence centre is Nagarajan, Managing Director of spot, with goals to produce fi ve million
expected to grow the company in the Thyssenkrupp Nucera India Pvt. Ltd. tonnes of green hydrogen per year by
Indian market while also supporting 2030. Having made signifi cant strides
engineering and project execution in The company considers India as throughout 2023, revealing a $2bn in-
adjacent regions such as the Middle one of the strong markets for electro- centive plan to boost the development
East, Asia and Australia. lysis in future. In the chlor-alkali sector, of its hydrogen industry, the govern-
Thyssenkrupp Nucera already claims ment in August announced its green
Mumbai will be Thyssenkrupp to have leading market position with a hydrogen standard of 2kg CO e/kg of
2
Nucera’s eighth location after Milan market share of more than 70 percent. hydrogen – in line with US standards.
(Italy), Houston (USA), Riyadh (Saudi
Arabia), Tokyo & Okayama (Japan), The development of the chlor-alkali “India’s location as a hub for the
Shanghai (China), Perth (Australia), market is closely linked to the positive South Asian market, the good condi-
and the company headquarters in Dort- development of India’s GDP and its tions for renewable power generation as
mund (Germany). With around 30 potential to produce green hydrogen on an indispensable basis for green hydro-
employees at the start and more than 80 an industrial scale through alkaline water gen, and the high demand for cost-
within three years, Mumbai will be one electrolysis. “At Thyssenkrupp Nucera effi cient electrolysis technology makes
of the company’s fastest growing inter- India, we want to exploit this potential the Indian market so special,” said
national locations, it said. to develop the local market as a long- Dr. Arno Pfannschmidt, Chief Financial
term complement to our chlor-alka- Offi cer at Thyssenkrupp Nucera, who is
“We have a long history in India and li activities,” said Mr. Kiran Paul Jo- also responsible for the India business.

IREDA chief calls for investments in research to

reduce green hydrogen production cost

The cost of producing green hydro- “Mr. Das highlighted the impor- green hydrogen sector. Mr. Das men-
gen can be lowered through investments tance of reducing the cost of green hy- tioned that IREDA is expecting its ini-
in research, development, and innova- drogen through investments in research, tial public offering (IPO) to enable the
tion, according to Mr. Pradip Kumar development, and innovation. These company to augment its capital base to
Das, CMD of government-owned investments aim to identify cost-effec- meet its future capital requirements and
Indian Renewable Energy Develop- tive methods for green hydrogen pro- for onward lending. IREDA, under the
ment Agency (IREDA). duction,” it added. He also advocated Ministry of New and Renewable Energy,
for leveraging economies of scale in is a non-banking fi nancial institution
He was speaking at the AtoZero transportation (including pipeline and engaged in promoting, developing
(Accelerate to Net Zero) ASEAN Sum- liquefaction) and storage facilities by and extending fi nancial assistance for
mit in Kuala Lumpur in Malaysia, establishing hydrogen hubs. These setting up projects related to new and
the Ministry of New and Renewable hubs would promote greater utilisation renewable sources of energy, energy
Energy (MNRE) said in a statement. of infrastructure, further advancing the effi ciency and conservation.

140 Chemical Weekly October 17, 2023

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