Thermax Limited, a leading energy and environment solutions provider, has entered into a strategic Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Limited (HPCL), a Maharatna public sector enterprise and one of India’s largest integrated oil refining and marketing companies. The partnership aims to strengthen collaboration in emerging clean energy technologies and support India’s long-term energy transition goals.
Under the MoU, Thermax and HPCL will work together to exchange scientific and technical knowledge, undertake joint research initiatives, and promote demonstration as well as large-scale deployment of advanced solutions. The focus areas include high-pressure anion exchange membrane (HP AEM) electrolysers for green hydrogen, carbon dioxide capture technologies, bio-pyrolysis oil processing, and other new and emerging energy segments.
This collaboration is expected to play a key role in accelerating the adoption of indigenous and sustainable energy technologies. By combining Thermax’s proven technology development and product engineering capabilities with HPCL’s strong research and development ecosystem, operational excellence, and nationwide scale, the partnership aligns closely with the Government of India’s “Make in India” initiative. It also supports national priorities around decarbonisation, clean fuels, and climate action.
The alliance comes at a time when India is rapidly scaling investments in green hydrogen, carbon capture, and bio-based fuels to reduce dependence on fossil fuels and cut greenhouse gas emissions. Joint efforts in HP AEM electrolyser development could help lower costs and improve efficiency in domestic green hydrogen production, while advancements in CO₂ capture and bio-pyrolysis oil processing can contribute to cleaner industrial operations and alternative fuel pathways.
Commenting on the collaboration, Ashish Bhandari, Managing Director and CEO of Thermax Limited, said that India’s energy transition will be driven by strong industry partnerships. He highlighted that the collaboration with HPCL brings together complementary strengths, enabling faster movement from innovation and research to real-world, on-ground implementation across green hydrogen, carbon capture, and bio-based fuel solutions.
