- 23 Mar 2023
- ICICIdirect Research
L&T ties up with Mcphy for electrolyser manufacturing
LT - 2228 Change: 9.20 (0.41 %)News: L&T has entered into an electrolyzer manufacturing binding agreement with McPhy Energy, a France-based leading electrolyser technology and manufacturing company, for a long-term partnership to explore the opportunities unfolding in the emerging Green Hydrogen market. Under this partnership, McPhy will grant an exclusive license of its pressurised alkaline electrolyzer technology to L&T for manufacturing of electrolyzers, including future product upgrades. L&T plans to set up a Gigawatt-scale manufacturing facility for electrolyzers based on McPhy technology in India to serve the domestic requirements as well as cater to the other selected geographies
Views: The proposed agreement is in line with L&T’s strategic vision to be present across the green energy value chain and increase the share of new business areas like hi tech manufacturing
Impact: Positive