Norwegian clean-tech leader TECO 2030 and Indian power infrastructure specialist Advait Infratech Limited have entered into a strategic partnership to accelerate the deployment of fuel cell technology across India and SAARC countries. This collaboration aims to leverage both companies’ strengths in clean energy technologies to foster sustainable solutions in maritime and heavy industries.
The partnership was formalized through a Memorandum of Understanding (MOU) and includes a significant investment from Advait Infratech into TECO 2030. The agreement paves the way for the creation of a joint venture, which will be majority-owned by Advait Infratech. This venture will exclusively handle the development, manufacturing, and marketing of TECO 2030’s innovative Fuel Cell Technology within the targeted regions.
Shalin Sheth, Managing Director and Founder of Advait Infratech, emphasized the importance of this partnership in advancing renewable energy initiatives and strengthening the bond between India and Norway. “This collaboration marks a significant step forward in our commitment to the renewable energy sector and reinforces the strong ties between India and Norway,” said Sheth.
Tore Enger, Group CEO of TECO 2030, highlighted the strategic importance of the Indian and SAARC markets. “By combining our advanced technology with Advait Infratech’s established presence and expertise in the power infrastructure and green energy sectors, we are poised to make significant inroads into one of the fastest-growing markets for clean energy technologies,” Enger commented.
Earlier in the year, Advait Infratech secured a considerable portion of India’s electrolyser manufacturing capacities through the Strategic Interventions for Green Hydrogen Transition (SIGHT) program. Furthermore, the company expanded its reach in the fuel cell domain by signing a Memorandum of Understanding with GuoFu Hydrogen Energy Equipment Co., Ltd. and Carbon Technology Energy (CTE).
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