TECO2030 Energy Solutions AS and Advait Energy Transitions Limited (AETL) have announced a partnership to establish a licensed fuel cell manufacturing facility in Ahmedabad, India. The joint venture will focus on supplying fuel cell technology to markets in India and SAARC countries.
Under the agreement, AETL will hold a 51% equity stake in the joint venture and oversee business operations, including recruitment and commercialization. TECO2030 will provide product development, licensing, research and development, and technical support.
The manufacturing facility in Ahmedabad is expected to serve as a hub for producing TECO2030’s fuel cell technology, aimed at supporting the adoption of hydrogen-based energy solutions in various sectors, including maritime, heavy transport, and power generation.
TECO2030 CEO Tore Enger stated that the collaboration combines TECO2030’s expertise in fuel cell development with AETL’s market knowledge and operational capabilities. AETL Managing Director Shalin Sheth noted that the venture aligns with the company’s strategy to expand clean energy solutions in India.
The facility is expected to contribute to hydrogen infrastructure development in the region and support India’s efforts to transition to sustainable energy sources. The joint venture aims to enhance energy efficiency and reduce emissions across multiple industries.