Indian Institute of Technology (IIT) IIT Bombay has partnered with HSBC to pursue technological advancements towards making green hydrogen production more efficient, cost-effective and scalable. The focus, a statement from the Mumbai-based institute said, will be on innovative projects that will help position green hydrogen as a strategic alternate fuel; help in building a robust, green hydrogen economy and achieve the government’s vision of an energy-independent nation.

This partnership is expected to help boost the government’s National Green Hydrogen Mission focused on providing policy support towards achieving global leadership in green hydrogen transition. The National Hydrogen Energy Mission, announced during the Union Budget of India, 2021-22, is a significant step that will provide a roadmap for leveraging alternate sources of energy in India towards enabling a greener future.

This partnership was unveiled by union finance minister Nirmala Sitharaman, at an event held in Delhi, in attendance of the leadership teams from IIT Bombay and HSBC.

Speaking about this collaboration, Prof. Subhasis Chaudhuri, Director, IIT Bombay said, “Moving towards sustainable and clean sources of energy is a crucial step in the global fight against climate change. Green Hydrogen – with its applications across industries including transportation – will occupy a vital space in global energy. I am confident that this partnership between IIT Bombay, HSBC and the Shakti Sustainable Energy Foundation will accelerate research in this space and facilitate India’s transition towards wide-scale adoption of Green Hydrogen”.

Commenting on the initiative, Mr. Hitendra Dave, CEO, HSBC India said, “Sustainability is a key element of our business, operations and community investments. We are delighted to work with IIT Bombay to foster innovation to make green hydrogen production more scalable and commercially feasible. We believe we have a crucial role in accelerating the development and deployment of green hydrogen technologies and driving the transition to a sustainable and low-carbon energy system”.