May 20 (Renewables Now) - Pure Hydrogen Corp Ltd (ASX:PH2), an Australian developer of hydrogen and gas projects, on Friday said it has agreed a term sheet for setting up a joint venture (JV) in India with local automotive components producer Advik Hi-Tech Pvt Ltd to be owned 49% by Pure Hydrogen and 51% by its Indian partner.
The partnership, which was detailed in Pure Hydrogen’s latest quarterly report, will seek to supply and produce hydrogen in India and sell it to the transport sector. It will also pursue opportunities to supply hydrogen fuel cell electric vehicles (HFCEVs) in India. No specific projects have been identified at this point. The partners intend to bid for government contracts covering bus supply and hydrogen refuelling. They should enter into a JV agreement by mid-August.
“India is obviously a massive market and it make good commercial sense to build a presence here with an established and respected local company,” commented Pure Hydrogen managing director Scott Brown.
Advik managing director Aditya Bhartia said that the JV will use turquoise and emerald in addition to green hydrogen production technologies.