Ducon Infratechnologies rose 2.69% to Rs 22.90 after the company announced that it has set up a new business division, "Hydrofule", to focus on reducing the production cost of Green Hydrogen.
Ducon Infratechnologies has set up a new business division, Hydrofule, in its wholly owned USA based subsidiary to carry out research & development work on building a large scale economical Green Hydrogen Electrolyzer that will work with solar energy to achieve a conversion efficiency of at least 70%.The zero-carbon fuel, Green Hydrogen, is made using renewable power from wind or solar sources to split water into hydrogen and oxygen through an electrolyzer. Currently, regular electricity to hydrogen electrolyzers provide over 70% efficiency but they do not generate Green Hydrogen because they use electricity from fossil fuels. On the other hand, existing efficiencies of Solar to Hydrogen Electrolyzers, which produce green hydrogen are about 20% due to which Green Hydrogen business has not been commercially viable, the company said in a statement.
Hydrofule's research will focus on reducing the production cost of Green Hydrogen by improving the Photovoltaic-Electrolysis system efficiency through minimizing the water splitting voltage and deploying high efficiency electrocatalysts in the electrolyzer. Hydrofule plans to develop a prototype with hybridization of semiconductor oxide photoelectrodes, with noble metals and their nanocomposites that can provide enhanced electron mobility and photostability for better electrochemical performance and a solar to hydrogen conversion efficiency greater than 70%.
Arun Govil, chairman of Ducon said: this new business will be housed in our wholly owned USA subsidiary of the Company and will file for patents as and when possible. As the Indian government has laid out ambitious plans for India to become a leader in Green Hydrogen production, we will be making significant investment in research& development during the coming yearsto leveragethis transformational Clean Technologies opportunity by developing the most cost-effective solar hydrogen electrolyzer. The global capacity for water electrolysis technologies is expected to reach approximately 104.6 GW by 2031, growing at a compound annual growth rate (CAGR) of 62.6 percent and the global Green Hydrogen market which was $0.3 billion in 2020, is expected to reach $9.8 billion by 2028. Green hydrogen will be an essential part of our future as it will be a crucial enabler of global transition to sustainable energy and net zero emissions provided it can be produced more economically than the current cost," added Govil.
On a consolidated basis, net profit of Ducon Infratechnologies surged 383.1% to Rs 1.67 crore on 3.9% decline in net sales to Rs 96.18 crore in Q4 FY22 over Q4 FY21.
Ducon Infratechnologies is a fossil fuel/clean coal technology company. It provides complete Flue Gas Desulphurization (FGD) systems with turnkey responsibility, all across India and in neighboring regions for coal, heavy fuel oil (HFO) and pet coke fired power boilers.
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