Pune: Thermax Partners with Ceres Power to Advance Green Hydrogen Production in India

Pune, 12th September 2024: Thermax, a prominent provider of energy and environmental solutions, has forged a strategic alliance with Ceres Power Limited, a subsidiary of Ceres Power Holdings plc. This partnership introduces a non-exclusive global license agreement that empowers Thermax to manufacture, sell, and service stack array modules (SAM) utilizing Ceres Power’s cutting-edge solid oxide electrolysis cell (SOEC) technology.

As part of the collaboration, Thermax will not only manufacture and commercialize SAM balance of modules (SBM) but also develop multi-megawatt SOEC electrolyser modules. This initiative represents a major advancement in deploying SOEC technology in India and globally, paving the way for cost-effective green hydrogen production.

Thermax will utilize its expertise in heat integration and waste heat recovery to produce a groundbreaking pressurized SAM and design the SBM, which will serve as a crucial component for developing large-scale SOEC electrolyser modules.

The collaboration promises to transform the hydrogen production industry by delivering systems that are up to 25% more efficient compared to traditional low-temperature electrolysis technologies. These systems will make optimal use of steam generated from industrial process heat and waste heat recovery, offering a viable solution for decarbonizing challenging sectors such as ammonia and fertilizer production, steel manufacturing, refineries, and chemical production.

Thermax also plans to establish a dedicated manufacturing facility for these electrolysers, develop a robust supply chain, and localize critical components to support the commercialization of this technology.

Ashish Bhandari, Managing Director & CEO of Thermax, commented, “India is making significant progress towards adopting renewable energy sources, especially green hydrogen, with a target to produce 5 million metric tonnes by 2030. We are thrilled to collaborate with Ceres to introduce advanced SOEC technology to India. By leveraging our thermal management expertise, we aim to provide an efficient and cost-effective hydrogen production solution that will accelerate the energy transition both in India and globally. This partnership is in line with our dedication to advancing sustainable solutions and accelerating decarbonization in hard-to-abate industries.”

Phil Caldwell, CEO of Ceres Power, added, “We are delighted to announce our partnership with Thermax, an engineering leader with extensive expertise in heat integration and waste heat recovery. This agreement marks Ceres’ entry into the Indian market, which is rapidly evolving into a key player in green hydrogen, green steel, and green ammonia. This strategic collaboration is a significant milestone for Ceres as we expand our global network of top-tier partners. Our technology will enable Thermax to develop next-generation hydrogen solutions for challenging industrial sectors, driving demand for our manufacturing licenses. We view this new regional venture as a pivotal opportunity to support industrial decarbonization in this burgeoning market.”