Thermax Limited has informed the Exchange about Arrangements for strategic, technical, manufacturing, or marketing tie up
THERMAX · price
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Thermax has signed a technology licensing and stack supply agreement with Norway-based HydrogenPro ASA, gaining exclusive rights in India to manufacture, sell, install and service alkaline electrolyser systems based on HydrogenPro's technology. Thermax will procure electrolyser stacks from HydrogenPro and pay royalties and other fees as agreed. As part of the partnership, Thermax will engineer and manufacture balance-of-plant components locally, set up a short-stack test station at its Pune facility, and collaborate with HydrogenPro on joint development of advanced solutions. The deal supports Thermax's push into the green hydrogen space and positions it to offer end-to-end EPC-based green hydrogen solutions for large-scale projects in India. The agreement is international in scope and is not a related-party transaction.
This is a positive strategic move that expands Thermax's green hydrogen portfolio with proven international technology, opening a new growth vertical aligned with India's energy transition push. Near-term impact on stock may be modest as there are no immediate revenue numbers, but it strengthens Thermax's positioning in a high-potential, policy-supported sector.