Thermax will also develop, commercialise, and sell SAM balance of modules (SBM) and multi-megawatt SOEC electrolyser modules.
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 SBM, a building block for the further development of a multi-MW SOEC electrolyser module.
As part of its move towards commercialisation, Thermax plans to establish a manufacturing facility for the electrolysers, develop the supply chain, and localise critical components.
Commenting on this partnership, Ashish Bhandari, Managing Director and CEO of Thermax, said: “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.”
