Thermax, a leading energy and environment solutions provider in energy transition, has entered in to a strategic collaboration with Ceres Power Limited, a subsidiary of Ceres Power Holdings (CWR.L), a leading developer of clean energy technology.

The two companies have entered a non-exclusive, global license agreement for Thermax to manufacture, sell and service stack array modules (SAM) based on Ceres' advanced solid oxide electrolysis cell (SOEC) technology.

Thermax will also develop, commercialise and sell SAM balance of modules (SBM) and multi-megawatt SOEC electrolyser modules. The partnership marks a significant step towards accelerating the deployment of SOEC technology in India and worldwide that will enable cost-effective green hydrogen production.

Under this partnership, Thermax will leverage its extensive experience in heat integration and waste heat recovery to manufacture a first-of-its-kind pressurised SAM and design, engineer, and develop SAM balance of module (SBM), a building block for further development of a multi-MW SOEC electrolyser module.

Commenting on this partnership, Ashish Bhandari, Managing Director & CEO, Thermax: “In India, significant strides are being made towards embracing renewable energy sources, particularly green hydrogen, as the country targets to produce 5 million metric tonnes of green hydrogen by 2030. We are excited to partner with Ceres to bring advanced solid oxide electrolysis (SOEC) technology to India. By leveraging our expertise in thermal management, we aim to offer a highly efficient and cost-effective hydrogen production solution that will accelerate the energy transition in India and globally. This collaboration aligns with our commitment to driving sustainable solutions for accelerating decarbonisation for hard to abate industries.”

Phil Caldwell, CEO of Ceres, commented: “I am pleased to announce our SOEC systems partnership with Thermax, an engineering leader with expertise in heat integration and waste heat recovery processes and deep industrial customer relationships. This system licence agreement will take Ceres into the Indian market which is rapidly becoming one of the most dynamic and increasingly important markets for green hydrogen, green steel and green ammonia.

This is a strategically important agreement for Ceres as we continue to build our global eco-system of world-class partners. Our technology enables Thermax to develop next-generation hydrogen solutions for its customers in the hard-to-abate industrial sectors, stimulating market demand pull for our manufacturing licensees.  Our entry into this new region marks an exciting opportunity for Ceres as we help enable the path to industrial decarbonisation in this rapidly developing market.”