MoU signed by the Company with TECO Fuel Cell Technology AS, during 3rd India-Nordic Sumit held in Oslo, Norway on May 18, 2026

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AI summary

Advait Energy Transitions Limited has signed a Memorandum of Understanding with TECO Fuel Cell Technology AS, Norway, during the 3rd India-Nordic Summit held in Oslo on May 18, 2026. The MoU was signed in the presence of both Prime Ministers of India and Norway. The collaboration aims to enable domestic manufacturing of hydrogen fuel cell technology, aligned with India's Atmanirbhar Bharat initiative and National Green Hydrogen Mission. The partnership targets three sectors: stationary power including data centres (production from Q1 2027), heavy-duty transport (Q1 2028), and maritime applications (through 2028). Since this is only an MoU, a full agreement with complete details will be filed later.

Likely market impact

Positive signal for shareholders as the company enters the green hydrogen fuel cell space with a high-profile international partner. However, concrete financial impact will only materialise once a definitive agreement is signed.