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Which Company signs agreement with France-based McPhy for electrolyzer manufacturing?
A)
Larsen & Toubro (L&T)
B)
Adani Group
C)
Tata Group
D)
Hindustan Aeronautics Limited (HAL)

Correct Answer :   Larsen & Toubro (L&T)


Larsen & Toubro (L&T), an Indian multinational that specializes in EPC projects, hi-tech manufacturing, and services, EPC major on Wednesday (22nd March 2023) announced has signed a binding agreement with McPhy Energy, a leading electrolyzer technology and manufacturing company based in France.

* The agreement establishes a long-term partnership between the two companies to explore opportunities in the emerging green hydrogen market.

* Specifically, L&T and McPhy Energy will collaborate on electrolyzer manufacturing, which is a key technology for the production of green hydrogen.

* As part of the partnership, McPhy Energy has granted L&T an exclusive license to use its pressurized alkaline electrolyzer technology for manufacturing electrolyzers, including future upgrades.

* L&T plans to establish a large-scale manufacturing facility in India for electrolyzers based on McPhy’s technology.

* The facility will produce electrolyzers for both domestic and international markets. This partnership is in line with L&T’s strategy to expand its presence in the green energy value chain and supports McPhy’s goal of expanding beyond Europe.

* According to estimates, India’s green hydrogen production capacity is expected to increase to at least 5 MMTPA by 2030, which will require investments of more than $100 billion....

Source :  Business Standard

Published On : March 23, 2023
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