NEW
DELHI and SHANGHAI,
June 24,
2024 /PRNewswire/ -- Hydrexia Singapore Pte Ltd,
a wholly-owned subsidiary of Hydrexia Holding Limited (Hydrexia), a
leading integrated hydrogen solution provider in China, and NovaAir Private Limited (NovaAir),
a PAG investee company in India
today announced that the two companies have inked a Memorandum of
Understanding (MOU) to jointly develop the hydrogen market in
India. The cooperation is intended
to utilize the combined market skills and technologies of both
companies to best meet the hydrogen development needs in
India.
Under the scope of the MOU, Hydrexia and NovaAir will work
closely to jointly explore potential business projects leveraging
NovaAir's local business development capabilities as well as
Hydrexia's technologies and solutions in hydrogen purifications,
hydrogen refueling station (HRS) and hydrogen transportation and
storage.
The planned cooperation adds significant values to Hydrexia's
fast-growing market expansion in the Asian market following recent
successful business initiatives in the region. The cooperation with
NovaAir will further reinforce the strong commitment of Hydrexia to
serve hydrogen business needs in the region by collaborating with
local partners.
"The MOU adds a new dimension to the rapid growth of our
business in Asia. We are extremely
happy to work with NovaAir to develop the hydrogen market in
India," said George Gan, the Chief Executive Officer of
Hydrexia Southeast Asia. "The new venture will also help us to best
utilize our hydrogen technology solutions to serve the needs of our
customers in India," Gan
added.
"We are happy to have chosen Hydrexia as our partner to develop
the hydrogen market locally. Hydrexia has clearly demonstrated its
technological competitiveness to address the market needs," said
Gajanan Nabar, the Managing Director
and Chief Executive Officer of NovaAir. "Our combined market skills
and technologies will enable us to best serve the needs of the
hydrogen market going forward," Nabar continued.
Hydrexia has been actively expanding its business operation in
the hydrogen markets in Southeast Asian countries where its
business has been growing rapidly, having secured strategic
partnership, joint venture, and business contracts in 2024.
Hydrexia is fully committed to serving the technology and solution
needs of its customers globally.
[About NovaAir]
NovaAir is a manufacturer and supplier of high-quality
industrial gases. Funded by PAG India, NovaAir brings to the table
a unique combination of safety, operational reliability and
economic efficiency, while supporting the customers with gases in the
manufacturing process.
[About Hydrexia]
Hydrexia Holding Limited is a leading integrated hydrogen
technology solution provider in China with global reach. The company
specializes in providing technology solutions for hydrogen
production, storage, transportation, and end-use applications.
Leveraging its solid R&D capabilities and industry-leading
technology, Hydrexia aims to effectively address the technology and
application needs across the global hydrogen industry value
chain.
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SOURCE Hydrexia