Ballard announces MOU with Adani for hydrogen fuel cells in India

Ballard Power Systems Inc. (CNW Group/Ballard Power Systems Inc.)

VANCOUVER — Ballard Power Systems has signed a non-binding Memorandum of Understanding with the Adani Group to evaluate a joint investment case for the commercialization of fuel cells in various mobility and industrial applications in India.

Under the MOU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.

Ballard says hydrogen is increasingly viewed as a critical medium for the decarbonization of energy, industry, and mobility. Efforts under this MOU will be anchored by Adani New Industries Limited, the newly formed subsidiary of Adani Enterprises, focused on generation of green hydrogen, including downstream products, green electricity generation, manufacture of electrolyzers and wind turbines, among others.

“Green hydrogen is the fuel of the future and fuel cells will be a game-changer in India’s energy transition,” stated Mr. Vneet S Jaain, Director, Adani New Industries Limited in a statement.

“Our ability to build a world-class green hydrogen value chain will be critical in facilitating the energy transition and we are excited to partner with Ballard, a global leader in fuel cell technology, to create a shared fuel cell ecosystem in India. We will be deploying innovative use cases across our businesses with fuel cell trucks, mining equipment, marine vessels, off-road vehicles, and critical industrial power. We will shape the industry through this strategic collaboration.”