Shares of Gensol Engineering Ltd surged 3% on 3 September after the company announced emerging as the lowest bidder for creating India’s first bio-hydrogen project for a large power production firm in partnership with Matrix Gas & Renewables. 

The landmark project, which will be established by the company and Matrix consortium, will have the potential to convert 25 tonnes of bio-waste into 1 tonne of hydrogen per day. 

The landmark project is valued at Rs 164 crore and has to be completed in 18 months. The completion will mark a significant milestone that aligns with the National Green Hydrogen Mission to convert biomass to green hydrogen generation. 

The scope of the project includes constructing a facility for processing 25 tonnes of bio-waste per day and produces 1 tonne of green hydrogen per day using the Pre-Gasification Plasma Induced Radiant Energy-Based Gasification System (GH2-PREGS) technology. 

Anmol Singh Jaggi, Chairman and Managing Director of Gensol Engineering, said, “Gensol and Matrix consortium highlights our unwavering commitment to innovation and excellence within the renewable energy sector, aligning with India’s National Green Hydrogen Mission and aiming to become an EPC turnkey solution provider.” 

Singh added that by converting bio-waste into hydrogen, we are addressing critical environmental challenges and making a significant contribution to the country’s energy transition. 

Gensol and Matrix, both companies led by the same group of promoters, will continue their collaboration in the Green Hydrogen sector and its derivatives, such as Green Steel and Green Ammonia. They plan to capitalise on the distinct expertise each company brings to these initiatives.

At 1:47 pm, the shares of Gensol Engineering were trading 0.35% higher at Rs 942.40 on NSE. 

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