global automotive components manufacturer Advik Hi-Tech Private Limited”) has announced
that it has signed a Joint Venture (JV) with Australian clean energy Company Pure
Hydrogen Corporation Limited.
The JV will see the parties establish a Joint
Venture Private Limited Company (“JV Co”) in India, with Advik holding a 51%
share and Pure Hydrogen a 49% share in the Private Limited Company.
JV Co will establish a hydrogen production
facility in India, which intends to sell, transport, and distribute hydrogen
across India. The company will also be in a position to supply HFCEV buses and
trucks, which could put India at the forefront of hydrogen production, sale,
and distribution globally.
Advik is a well-established automotive
components company with over $100 million in annual revenues. The company has a
leading position in high technology components for passenger vehicles,
commercial vehicles, and two-wheeler as a core supplier to almost all major
Original Equipment Manufacturers (OEMs).
additionally has a JV with H2X Global Pty. Ltd., and together with Pure
Hydrogen, will take a leading position in India for the development and
production of a hydrogen ecosystem from hydrogen fuel to hydrogen powered
generator units and hydrogen powered vehicles.
two companies are hoping to revolutionise the heavy vehicle market in India by
providing green hydrogen fuel and hydrogen fuel cell vehicles (HFCEVs) to help
reduce emissions and costs. JV Co also plans to tender for Government contracts
involving Bus supply & hydrogen refueling.
is also the opportunity for the PowerH2 Generators to be an alternative to
Diesel-powered generators. Further, Advik has been approved by the Government
of India for the Production Linked Incentive (PLI) Scheme for the hydrogen fuel
cell system. PLI focuses on emerging industry capabilities as it aims to push
forward India’s transition to clean energy and the JV will benefit from this PLI.
Bhartia, Managing Director of Advik expressed, “Advik is delighted to partner
with Pure Hydrogen for developing the hydrogen eco-system in India. It is
encouraging to see Pure Hydrogen set up multiple projects in Australia to
manufacture & transport hydrogen. The Indian government is focusing on
hydrogen as a fuel and intends to be a major production and export hub. In
addition to the green hydrogen, this JV will utilize technologies like
turquoise hydrogen - produced by methane pyrolysis and emerald hydrogen -
produced from waste. With this collaboration, we aim to be an end-to-end
solution provider for the hydrogen ecosystem, from hydrogen generation to
hydrogen-powered mobility and stationary solutions”.
Director of Pure Hydrogen Scott Brown said, “We are excited to be partnering
with Advik in India and with Pure Hydrogen expertise in hydrogen eco-system,
will give the JV a major strategic advantage in India and a big head start to
become a leading player here. India is obviously a massive market and it makes
good commercial sense to build a presence in India with an established and
respected local company. We believe India would be a world leader in hydrogen
economy in the future and this JV is a strategic fit to our global business plan."
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