DEE's Hydrogen Leap: Powering a Greener Future
DEE Development Engineers Ltd is expanding into hydrogen production, aiming to capitalize on business opportunities in the evolving sector. After acquiring a stake in Maldives Design Ltd, the company plans to focus on hydrogen purification and ammonia crackers, aligning with India's National Green Hydrogen Mission to boost renewable energy.
- Country:
- India
Engineering solutions provider DEE Development Engineers Ltd is set to diversify into hydrogen production, eyeing substantial business prospects in this rapidly growing field.
Chairman and Managing Director Krishan Lalit Bansal revealed that the company has recently acquired a 70 percent stake in Maldives Design Ltd, which specializes in manufacturing nitrogen and oxygen plants, hydrogen purification plants, and ammonia crackers. Bansal stated that these strategic moves are expected to significantly contribute to DEE's expansion into the hydrogen market.
With the government's National Green Hydrogen Mission pushing to establish India as a global leader in green hydrogen technology by 2030, DEE is keen on forming technology partnerships to manufacture complete hydrogen plants. The mission aims to generate five million metric tonnes of green hydrogen annually, emphasizing economic decarbonization and reduced fossil fuel dependency. As part of this mission, DEE foresees its revenue increasing from Rs 827.36 crore in 2024-25 to Rs 1,300 crore in the following year.
(With inputs from agencies.)
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