Third largest automobile manufacturer in India, Hyundai Motor and the prominent public technical and research university, Indian Institute of Technology Madras (IIT-M) have inked a deal to invest Rs. 180 crore in the creation of a hydrogen valley innovation hub.
During the city's most recent Tamil Nadu Global Investors Meet (TNGIM) 2024, the deal was signed. The institute will operate and maintain Hydrogen Valley while focusing on manufacturing, skill development, validation platforms, roadmaps, landscape analysis and other major landscapes.
It will also serve as the nodal agency for setting up the hub at its campus in the city. On the total investment of Rs. 180 crore for the project, Hyundai Motor is projected to contribute Rs. 100 crore.
The purpose-built facility will serve as an incubator to create a framework for the localization of a hydrogen ecosystem. This finely planned facility’s goal is to promote a global hydrogen ecosystem. It will supply the infrastructure for research and development in addition to the building.
Clean energy solutions based on hydrogen will be promoted by this project across a range of industries and applications and for developing rules and promoting policy for hydrogen-related technology; the government agency, Guidance Tamil Nadu would be a major role.
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