Delhi-based Greenzo Energy India said it will invest $50 million to manufacture 250 MW of anion exchange membrane (AEM) electrolyzers per year and the balance of plant (BOP) in the Sanand-II Industrial Estate, a part of Gujarat Industrial Development Corporation (GIDC).
“We aim to set up a cost-effective green electrolysis plant, supporting green hydrogen projects, and making our nation self-sufficient in the hydrogen initiative,” Sandeep Agarwal, Founder & MD of Greenzo Energy India, said.
The company aims to provide end-to-end solutions for green hydrogen production and storage.
The initial investment will be towards market research, business development, lab equipment, and technology evaluation.Additionally, the company said it received an investment commitment of $1 million from angel investor Real Time Accelerator Fund.
Pranay Mathur, CEO of Real Time Accelerator…
Greenzo Energy to Invest $50 Million in Green Hydrogen Tech in Gujarat
