 "Hyundai Motor India Ltd, Hyundai")
Auto-maker Hyundai Motor India and the Indian Institute of Technology, Madras here is set establish a Hydrogen Valley Innovation Hub at an outlay of Rs 180 crore, which would promote hydrogen-based clean energy solutions in various applications and sectors.
A memorandum of understanding between Hyundai Motor India, IIT-Madras, and the state government's investment promotion agency Guidance Tamil Nadu was signed during the Global Investors Meet held here recently.
"The Hydrogen Valley Innovation Hub project, with a total project cost of Rs 180 crore, will be established with an investment of Rs 100 crore by Hyundai Motor India Ltd, towards its capital expenditure requirements," a press release from IIT-Madras said on Friday.
The Chennai-based premier research institute would take up the responsibility of setting up the hub at its sprawling campus in the city, and provide both the building as well as research and development infrastructure.
IIT-M would also develop a curriculum and body of knowledge for skill development while operating and maintaining Hydrogen Valley.
"As our country has set definite targets towards meeting the sustainable development goals, using non-fossil fuel is of great significance. In this direction, a consortium coordinated by IIT Madras is setting up a Hydrogen Valley project," said IIT Madras Director Professor V Kamakoti.
"This funding from Hyundai has come at an extremely appropriate time and certainly shall help in the rapid growth of this Consortium," he added.
Guidance Tamil Nadu would be a key player supporting policy advocacy on hydrogen-related technologies and regulations development.
This project would not only give India's green hydrogen goals a push but will also inculcate knowledge sharing, and skill development among others.
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