Ohmium partners with NTPC to manufacture electrolyzers for green hydrogen in India
Ohmium International is a leading provider of advanced energy storage solutions and smart grid technologies, empowering the transition toward a more sustainable and efficient energy ecosystem.
With a focus on innovation and reliability, Ohmium is revolutionizing the way we store and distribute renewable energy.
Ohmium International has raised a total of $295 million in funding over 2 rounds.
Their latest funding was raised on Apr 26, 2023, from a Series C round of $250M led by TPG Rise Climate Fund 1.
The previous funding was a $45 million Series B Financing round announced on April 14, 2022
Ohmium International announced on Thursday that its India-based subsidiary has been selected as the Proton Exchange Membrane (PEM) electrolyzer partner for NTPC Renewable Energy Limited (REL), India’s largest power utility’s renewable energy arm.
In a statement, Ohmium said, “Its India-based subsidiary has been selected as the PEM electrolyzer partner of NTPC Renewable Energy Limited (REL), the renewable energy subsidiary of NTPC.”
The arrangement is effective for two years, until May 2025, according to the business.
Ohmium’s patented electrolyzers will be used in a variety of industrial and commercial applications, including ammonia manufacture, transportation, and power generation, among others, under the terms of the agreement. These electrolyzers are intended to be integrated into projects with capacities of up to 400 megawatts (MW).
The collaboration with Ohmium will help NTPC achieve its aim of deploying 5 gigatonnes (GW) of renewable energy for green hydrogen and ammonia generation, which will contribute to the company’s ambitious goal of generating 60 GW of renewable energy capacity by 2032.
Arne Ballantine, CEO of Ohmium, expressed enthusiasm about the partnership, and said, “NTPC has always been at the forefront of adopting innovative clean technologies, and the company’s forward-thinking approach will be instrumental in enabling India to realize its potential as a green hydrogen powerhouse.”