Inox Air plans to tap markets for green hydrogen business.
Inox Air Products Ltd, India’s largest manufacturer of industrial and medical gases, plans to tap the equity market to finance an expansion into green hydrogen, a top executive said.
“Currently, there is no need… However, when we enter the hydrogen-producing business, that would require us to raise money, since the segment is capital-intensive. It could require an investment of up to ₹10,000 crore and we would surely look at tapping the equity market to raise money,” Siddharth Jain, managing director, Inox Air said in an interview.
India has announced a National Green Hydrogen Mission to create 5 million tonnes of capacity by 2030, as it aims to become a world leader in green hydrogen.
Inox Air plans to invest ₹3,000 crore across its nine sites in the next two to three years, most of it in the first two years.
Inox Air plans to tap markets for green hydrogen business, May 16, 2023
