Ohmium Secures Funding for 137-MW Electrolyzer to Boost Green Hydrogen Efforts

Ohmium has secured funding to establish a 137-MW electrolyzer under the SIGHT scheme. This initiative, supported by the Ministry of New and Renewable Energy, aims to boost India's green hydrogen capacity. Ohmium, recognized for their advances in decarbonization, plans to expand its operations with this financial support.

Green hydrogen firm Ohmium announced on Thursday that it has secured financial aid for establishing a 137-MW electrolyzer manufacturing capacity under the SIGHT scheme.

An electrolyzer is a device utilizing electricity to split water into hydrogen and oxygen via electrolysis.

Ohmium International (Ohmium) has again been chosen as a SIGHT Incentive Program award recipient by the Ministry of New and Renewable Energy (MNRE), according to a company statement.

"Our selection for this award highlights Ohmium team's dedication to excellence and decarbonization efforts globally," stated Arne Ballantine, CEO of Ohmium.

This accolade continues Ohmium's success in the first phase of the SIGHT program. SECI tenders aim to support 1.5 GW of domestic electrolyzer manufacturing capacity, aligning with India's sustainability objectives.

"India's ambitious green hydrogen goals are bolstered by this program, enhancing the country's emergence as a global energy hub. These funds will expedite the expansion of Ohmium's Gigafactory in Bangalore and support future local manufacturing facilities," Ballantine added.

Ohmium leads in PEM electrolyzer technology in India, collaborating with major entities such as NTPC and Tata Projects.

The firm boasts an active green hydrogen project pipeline exceeding 2 GW across four continents, addressing diverse sectors like energy, transportation, steel production, and heavy industry.

Headquartered in the U.S. with manufacturing sites in India and global operations, Ohmium's project pipeline extends over 2 GW across three continents.

In 2023, Ohmium raised USD 250 million in Series C funding, spearheaded by TPG Rise Climate.

(With inputs from agencies.)