Mumbai, December 2, 2024: IIT Bombay and HSBC India have announced a collaboration aimed at accelerating the development of green hydrogen technologies. As part of this initiative, a large number of innovative project proposals were received from six IITs, the National Institute of Technology, and the Indian Institute of Science, Education and Research. After a rigorous selection process by a Steering Committee of industry experts and senior faculty, six projects have been shortlisted for incubation at IIT Bombay.
These projects, developed by researchers and students, focus on overcoming key challenges in green hydrogen production, storage, transportation, and utilization. Notable initiatives include indigenous hydrogen storage systems to reduce carbon emissions from commercial vehicles, cost-effective hydrogen generators, and alternative combustion burners aimed at improving air quality in major Indian cities.
The selected projects will be incubated at IIT Bombay’s incubation centre, where they will be nurtured for commercial readiness. The programme is designed to refine these innovations, scale them up, and make them commercially viable by the end of the incubation period.
Hitendra Dave, CEO of HSBC India, commented, "We believe that Green hydrogen is a necessary lever to achieve a low carbon economy. Our partnership with IIT Bombay reflects this belief and is also in line with our global commitment to sustainability. It is overwhelming to see the great response to this programme and the innovative ideas that we have received. We look forward to working with IIT Bombay to nurture these six innovations to make Green Hydrogen a cost-effective, scalable, and sustainable proposition.”
Prof. Shireesh Kedare, Director of IIT Bombay, said, "IIT Bombay is honoured to join forces with HSBC India in a transformative endeavour to drive India toward energy independence by setting up a thriving green hydrogen economy. This collaboration underscores our firm commitment to supporting the Indian government’s visionary National Green Hydrogen Mission which positions green hydrogen not just as a sustainable fuel, but as a cornerstone of the country's future energy landscape. By driving groundbreaking research with wide-ranging applications—from transportation to industrial energy—this partnership is set to catalyze a cleaner, self-reliant India, and elevate our role as a leader in the global green energy movement.”
This initiative aligns with India’s National Green Hydrogen Mission, which aims to develop green hydrogen production capacity and make it a key alternative fuel across industries. The mission envisions producing at least 5 million metric tonnes of green hydrogen annually by 2030, contributing significantly to India’s renewable energy capacity and its net-zero emissions target.
The six shortlisted projects include:
- Project 1: Utilizing earth-abundant materials for sustainable and cost-effective hydrogen production.
- Project 2: Developing a hydrogen generator with an energy efficiency of over 80% and a reduction in production costs by 30%.
- Project 3: Creating a cost-effective, locally designed multi-stack alkaline electrolyzer for green hydrogen production.
- Project 4: Developing indigenous hydrogen storage systems to support hydrogen-powered vehicles and reduce carbon emissions from commercial transport.
- Project 5: Innovating a burner alternative to traditional combustion processes to improve air quality and reduce the carbon footprint.
- Project 6: Designing a tool to guide the safe blending of hydrogen with natural gas for secure transportation.
These initiatives aim to enhance energy security, support sustainable industrial growth, and contribute to reducing carbon emissions, thus advancing India’s energy transition goals.
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