Thermax Partners with Ceres for Green Hydrogen Production with Large-Scale Solid Oxide Electrolysis (SOEC) Manufacturing in India
September 12 2024 - 6:43AM
Business Wire
Thermax, a leading energy and environment solutions provider and
a trusted partner in energy transition, has announced a strategic
collaboration with Ceres Power Holdings plc (CWR.L), a leading
developer of clean energy technology. The two companies have
entered a non-exclusive, global license agreement for Thermax to
manufacture, sell and service stack array modules (SAM) based on
Ceres' advanced solid oxide electrolysis (SOEC) technology. Thermax
will also develop, commercialise and sell SAM balance of modules
(SBM) and multi-megawatt SOEC electrolyser modules. The partnership
marks a significant step towards accelerating the deployment of
SOEC technology in India and worldwide that will enable
cost-effective green hydrogen production.
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Ceres signs Thermax as SOEC system
partner (Photo: Business Wire)
Under this partnership, Thermax will leverage its extensive
experience in heat integration and waste heat recovery to
manufacture a first-of-its-kind pressurised SAM and design,
engineer, and develop SAM balance of module (SBM), a building block
for further development of a multi-MW SOEC electrolyser module.
The collaboration is set to revolutionise the hydrogen
production landscape by delivering systems that are up to 25% more
efficient than incumbent low-temperature electrolysis technologies
and effectively utilise steam generated from industrial process
heat/waste recovery. This makes it an optimal solution for
decarbonising hard-to-abate industries such as ammonia/fertiliser,
steel, refineries and chemical production.
As a step towards commercialisation, Thermax plans to establish
a manufacturing facility for the electrolysers, develop the supply
chain, and localise critical components.
This collaboration positions Thermax among the few companies
globally to provide large-scale SOEC systems for commercial
applications.
Commenting on this partnership, Ashish Bhandari, Managing
Director & CEO, Thermax: “In India, significant strides are
being made towards embracing renewable energy sources, particularly
green hydrogen, as the country targets to produce 5 million metric
tonnes of green hydrogen by 2030. We are excited to partner with
Ceres to bring advanced solid oxide electrolysis (SOEC) technology
to India. By leveraging our expertise in thermal management, we aim
to offer a highly efficient and cost-effective hydrogen production
solution that will accelerate the energy transition in India and
globally. This collaboration aligns with our commitment to driving
sustainable solutions for accelerating decarbonisation for hard to
abate industries.”
Phil Caldwell, CEO of Ceres, commented: “I am pleased to
announce our SOEC systems partnership with Thermax, an engineering
leader in the energy and environment space operating across India,
Europe and Southeast Asia. This latest system licence agreement
will take Ceres into the Indian market which is rapidly becoming
one of the most dynamic and increasingly important markets for
green hydrogen, green steel and green ammonia.
This is a strategically important agreement for Ceres as we
continue to build our global eco-system of world-class partners.
Our technology enables Thermax to develop next-generation hydrogen
solutions for its customers in the hard-to-abate industrial
sectors, stimulating market demand pull for our manufacturing
licensees. Our entry into this new region marks an exciting
opportunity for Ceres as we help enable the path to industrial
decarbonisation in this rapidly developing market.”
About Thermax Limited
Thermax Limited (NSE: THERMAX) is a leading conglomerate in the
energy and environment space and a trusted partner in energy
transition. Thermax's extensive portfolio includes clean air, clean
energy, clean water and chemical solutions. Backed by its
longstanding industry partnerships across multiple sectors, Thermax
has cultivated strong expertise in audit, consulting, execution,
and maintenance coupled with digital solutions, ensuring a unified
energy and environment management experience. Leveraging its
distinctive engineering capabilities, Thermax converts costs to
profits while protecting the environment – a win-win for the
industry and society at large. Thermax operates 14 manufacturing
facilities across India, Europe, and Southeast Asia and has 43
Indian and international subsidiaries.
For more information, visit www.thermaxglobal.com or follow on
LinkedIn
About Ceres
Ceres is a leading developer of clean energy technology:
electrolysis for the production of green hydrogen and fuel cells
for power generation. Its asset-light, licensing model has seen it
establish partnerships with some of the world's largest companies,
such as Bosch, Doosan, Delta, Denso and Weichai. Ceres' solid oxide
technology supports greater electrification of our energy systems
and produces green hydrogen at high-efficiencies as a route to
decarbonise emissions-intensive industries such as steelmaking,
ammonia and future fuels. Ceres is listed on the London Stock
Exchange ("LSE") (LSE: CWR) and is classified by the LSE Green
Economy Mark, which recognises listed companies that derive more
than 50% of their activity from the green economy.
For more information, visit www.ceres.tech or follow on
LinkedIn
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Ceres Power Holdings plc Patrick Yau / Merryl Black Tel: +44
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