Ohmium to participate in Strategic Intervention for Green Hydrogen Transition (SIGHT) scheme, to help India accelerate domestic hydrogen production and promote low carbon energy independence .
CALIFORNIA AND BANGALORE, INDIA, [18] JANUARY, 2024 – Ohmium International (“Ohmium”), a leading green hydrogen company that designs, manufactures and deploys advanced Proton Exchange Membrane (PEM) electrolyzers, is one of eight companies selected to receive incentives as part of the Ministry of New and Renewable Energy (MNRE) Strategic Interventions for Green Hydrogen Transition (SIGHT) Incentive Scheme for Electrolyzer Manufacturing to be implemented by the Solar Energy Corporation of India (SECI).
The SIGHT scheme is an integral part of India’s goals to rapidly accelerate green hydrogen production and usage across industry in order to help India meet growing demand, promote low carbon energy independence, and deliver on goals to reduce carbon emissions intensity. SIGHT is part of India’s National Green Hydrogen Mission, with ambitious target for production capacity of 5 million metric tonnes per year (MMTPA) of green hydrogen by 2030.
To qualify for this scheme, electrolyzer manufacturers needed to meet eligibility standards for efficient and high-quality production, including specific requirements around low energy consumption, long life, active manufacturing facilities, and local value addition. “Through hard work, Ohmium achieved a leadership position among those awarded to receive these incentives. We are the only supplier of aerospace type PEM technology selected, and our product scored highest in efficiency and use of Indian sourced local content,” said Arne Ballantine, Ohmium CEO. “With this support, we will continue to streamline manufacturing operations as we scale to 2GW at our Bangalore factory. We will also advance our R&D efforts and improve overall cost competitiveness – helping to accelerate the uptake of green hydrogen in hard to abate sectors within India and globally.”
SIGHT incentives will begin at 4440 INR/Kw (approximately $53/Kw) and gradually go down over the next five years to 1480 INR/Kw (approximately $18/Kw), up to a total of Rs 202.7 crore (USD $25 million) of incentives. The financial support is capped at 137MW in sales per year and represents an important contribution to Ohmium’s overall 2GW annual manufacturing capacity.
Ohmium has a global green hydrogen project pipeline of over 2GW across three continents and a diverse range of industry applications including energy, transport, fertilizer production, steel production and heavy industry. Ohmium’s expanding commercial agreements include clients such as: NTPC, Shell India, Hero Future Energy, Emirates Steel Arkan, Amp Energy, Invenergy, E4Efficiency, NovoHydrogen, Tarafert and CEPSA.
Ohmium International
Rachel Mountain – Director, Global Marketing
Tel: +44 (0)7446733741
Email: rachel.mountain@ohmium.com
About Ohmium:
Ohmium designs, manufactures and deploys modular, scalable proton exchange membrane (PEM) electrolyzers that enable cost-competitive green hydrogen production. The company’s suite of electrochemical products helps customers achieve their sustainable energy goals for industrial, transportation, and energy projects. Headquartered in the United States, with manufacturing facilities in India and operations worldwide, Ohmium has a global green hydrogen project pipeline of more than 2 GW across three continents. In 2023, Ohmium raised $250 Million in Series C financing, led by TPG Rise Climate.
Ohmium’s Proton Exchange Membrane (PEM) Electrolyzers
Ohmium manufactures modular interlocking PEM electrolyzers that integrate advanced power electronics, delivering added value for a wide range of commercial and industrial applications in terms of safety, installation cost and speed, energy density, scalability, and ramp rate. Individual, compact electrolyzers can be easily stacked to significantly reduce installation and maintenance costs and the standardized design enables rapid scaling from megawatts to gigawatts. Ohmium's patented electrolyzer technology features dynamic ramping capabilities, making it suitable to pair with renewable electricity. For more information, please visit www.ohmium.com
