Hyundai, IIT-M join forces for Rs 180 cr Hydrogen Valley Innovation Hub in Chennai

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Hyundai, IIT-M join forces for Rs 180 cr Hydrogen Valley Innovation Hub in Chennai

Hyundai, IIT-M join forces for Rs 180 cr Hydrogen Valley Innovation Hub in Chennai

Industry News
Jan 17,24

The memorandum of understanding, signed during the recent Global Investors Meet, involves Hyundai Motor India, IIT-Madras, and Guidance Tamil Nadu, the state government's investment promotion agency.

Hyundai, IIT-M join forces for Rs 180 cr Hydrogen Valley Innovation Hub in Chennai

Hyundai Motor India and the Indian Institute of Technology, Madras, have joined forces to establish a Hydrogen Valley Innovation Hub with an investment of Rs 180 crore. This collaborative initiative aims to promote the adoption of hydrogen-based clean energy solutions across various applications and sectors. The memorandum of understanding, signed during the recent Global Investors Meet, involves Hyundai Motor India, IIT-Madras, and Guidance Tamil Nadu, the state government's investment promotion agency.

The Hydrogen Valley Innovation Hub project, with a total cost of Rs 180 crore, will see an investment of Rs 100 crore from Hyundai Motor India Ltd for its capital expenditure needs. IIT-Madras, based in Chennai, will take on the responsibility of setting up the hub on its extensive campus, providing both the physical infrastructure and research and development facilities. Additionally, IIT-M will develop a curriculum and knowledge base for skill development, overseeing the operation and maintenance of the Hydrogen Valley.

Professor V Kamakoti, Director of IIT Madras, highlighted the project's alignment with the country's sustainable development goals, emphasizing the importance of moving towards non-fossil fuel alternatives. The timely funding from Hyundai is expected to accelerate the growth of the consortium overseeing the Hydrogen Valley project.

Guidance Tamil Nadu will play a crucial role in supporting policy advocacy related to hydrogen technologies and the development of regulations. The initiative not only contributes to India's green hydrogen objectives but also fosters knowledge-sharing and skill development.

Source: Indiatimes