Advait Infratech Ltd announced today that its arm Advait Energy Holdings has invested in TECO 2030, a Norwegian company building Europe’s first giga production facility of hydrogen PEM fuel cell stacks and modules.
Post this initial tranche of investment, Advait Energy Holding holds 2.63% shares of TECO 2030 AS.
In April this year, Advait Infratech had announced its partnership with Norway-based TECO 2030 for fuel cell production in India. The two companies intend to establish a joint venture in India, with Advait Infratech owning the majority shareholding. The joint venture will develop, manufacture, and commercialise TECO 2030 fuel cell technology within the SAARC (South Asian Association for Regional Cooperation) member countries (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka).
TECO 2030 develops PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules that enable ships and other heavy-duty applications to become emissions-free.
Advait Infratech provides end-to-end solutions for power transmission, substation, and telecommunication infrastructure and has diversified into renewable energy.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.