Hydrogen Valley Innovation Hub will be established by Hyundai and IIT-M to advance green solutions
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| Hydrogen Valley Innovation Hub will be established by Hyundai and IIT-M to advance green solutions |
In addition to supporting India's green hydrogen objectives, this initiative will advance talent development and knowledge exchange.
The leading research institution in Chennai will assume responsibility for establishing the center at its expansive campus inside the city, and will provide the building along with the necessary facilities for research and development.
The Hydrogen Valley Innovation Hub, to be established here at a cost of Rs 180 crore by automaker Hyundai Motor India as well as the Indian Institute of Technology, Madras, would promote hydrogen-based renewable energy solutions across a range of applications and industries.
During the recent Global Investors Meet conducted here, an MoU was signed by Hyundai Motor India, IIT-Madras, and Guidance Tamil Nadu, the state government's promoting investment agency. "The Hydrogen Valley Innovation Centre project, with a total project cost of Rs 180 crore, will be established by Hyundai Motor India Corporation with an investment of Rs 100 crore for its capital expenditure requirements," a press statement issued by IIT-Madras stated
The leading research institution in Chennai will assume responsibility for establishing the center at its expansive campus inside the city, and will provide the building along with the necessary facilities for research and development. A curriculum and knowledge basis for development of skills during Hydrogen Valley operation and maintenance will also be developed by IIT-M. Professor V. Kamakoti, Director of IIT Madras.
"This funding from Hyundai will definitely aid the rapid growth of this consortium and comes at an extremely opportune time," he said. In order to promote policy advocacy for the development of hydrogen-related technologies and regulations, Guidance Tamil Nadu will be a major actor. In addition to supporting India's green hydrogen objectives, this initiative will advance talent development and knowledge exchange.
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