Thermax is planning to enter the green hydrogen sector and has established a strategic unit dedicated to hydrogen EPC projects and the localization of electrolyser manufacturing. Following an unmaterialized collaboration with Fortescue Future Industries (FFI) from Australia for green hydrogen initiatives and manufacturing in India, Thermax is now seeking a new partner, expected to be finalized within ninety days.
Recently, Thermax inaugurated a manufacturing facility in Pune focused on water and wastewater solutions. Additionally, the company acquired a fifty-one percent stake in TSA Process Equipments to provide comprehensive solutions for highly purified water, ultra-pure water, and water for injectables in rapidly growing industries. Thermax also formed a wholly-owned subsidiary, Thermax Chemical Solutions, to enhance its chemical business.
Thermax is considering potential involvement in thermal projects, with multiple awards anticipated in Q3/FY25. The chemical segment saw a 35 percent growth, green solutions increased by 19 percent, and industrial products grew by six percent. The company also secured a fuel cell project for submarines from the Indian Navy.
As reported by projectstoday.com, Thermax is positioning itself as a comprehensive provider for industrial and commercial clients, launching a variety of energy transition products, services, and green energy projects.
