BHEL Inks Pact with BARC for Hydrogen Production

State-run Bharat Heavy Electricals has entered into a Technology Transfer Agreement (TTA) on Tuesday with Bhabha Atomic Research Centre (BARC) for a 50-kilowatt alkaline electrolyser system for producing hydrogen. However, the financial implications of this transaction were not specified.

Key Takeaways from BHEL’s Agreement:

• BHEL enters into an agreement with Bhabha Atomic Research Centre.
• The agreement has been signed for a 50 KW alkaline electrolyser system for Hydrogen production.
• BARC will offer technology that is indigenously developed and has high local material content.
• The collaboration will enable BHEL to scale up this technology and commercialize it for various sectors.

BARC will offer technology that is indigenously developed and has high local material content, the company said via exchanges. 

Through this collaboration, BHEL plans to scale up the concerned technology and commercialise it for applications in sectors such as refineries, fertiliser, steel, transportation and others.

‘This will be a step further in BHEL's contribution to the National Green Hydrogen Mission,’ BHEL stated in the exchange filing.

The company’s shares witnessed some profit booking last week after its March quarter results with revenue flat for the March quarter, while a margin of 8.8% was significantly below the expectation of 14.3% for the quarter. On a year-on-year basis, the margin narrowed by nearly 400 basis points.

About Bharat Heavy Electronics Limited:

Bharat Heavy Electronics Limited also known as BHEL was established in 1964. It is India’s largest engineering and manufacturing enterprise in the energy and infrastructure sectors. It is also a leading power equipment manufacturer globally and one of the earliest and leading contributors towards building an Atma Nirbhar Bharat. The company with its comprehensive portfolio of products, systems and services serves its customers in the areas of power-thermal, hydro, gas, nuclear & solar PV, and transmission among others.

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