The JV company will manufacture fuel cells, generators and vehicles, and build a global supply chain of products and components for hydrogen powered vehicles and powered products.
ADVIK Hi-Tech Pvt. Ltd., leading Indian manufacturing and development company, and H2X Global Ltd., Australian vehicle and powered products manufacturer, have announced a joint venture for products and components for hydrogen vehicles and powered products for the Indian and global markets.
The vehicles and components have been designed and developed by the H2X global design team and production is scheduled to start immediately to cater for the rapidly growing demand for hydrogen powered equipment and vehicles in India.
H2X is driven by a team with over 20 years of experience in Europe and Asia with the development of fuel cell and hydrogen vehicles and power systems and is currently developing several customer delivery programs for fixed power generation and vehicles in Europe, Australia, South East Asia, Africa and South America.
ADVIK is a leader in the auto component space with a leading position in the passenger car, commercial vehicle and two-wheeler production chain as a core supplier of high technology components to almost all major OEMs and over $100 million in annual revenues. ADVIK is a leader in high technology low weight application and together with H2X will take a leading position in the development and production of solutions for hydrogen power and hydrogen mobility in India.
Launching immediately, H2X and ADVIK will begin production of H2X’s Series of fuel cell powered generators. H2X currently has several of these units in deployment in Australia. The first generators manufactured by the joint venture will be put into service with a large-scale power system providing emission-free power for ADVIK’s state of the art Research and Development Centre located in Pune, India.
“India is destined to be a leader in the Hydrogen Industry with strong support from Government and Industry. As a company which has always been ahead of the curve, we are aggressively pushing into the Hydrogen space as a core growth area for our company and as a leader of this movement in the country,” said Aditya Bhartia, Managing Director, ADVIK Hi-Tech. “We have great confidence in the product range from H2X as being one with several key opportunities to support to the deployment of Hydrogen in the Indian Market and together with our local knowledge and expertise we see great opportunity to develop this for the acceleration of the Indian Clean Energy movement”, he added.
Over the past year, the two companies have been working together to explore opportunities for hydrogen in the Indian market and as the dawn of the green hydrogen revolution comes upon the country the JV is launched to position H2X and ADVIK as key players within that.
ADVIK will become a major supplier of products and components to H2X on a global level, using the significant power of the company as a leading supplier in the automotive industry. ADVIK will also be launching distribution activity for products from H2X through the JV, capitalising on the local knowledge and network of the company.
Brendan Norman, CEO of H2X believes that the Indian market is critical to the long-term success of the hydrogen industry and that the partnership with ADVIK will be critical to the growth of the company. “We have long believed India is one of the great manufacturing powers of the world and we have found a great player in the automotive Industry in ADVIK. The cooperation between our companies gives us great strength in being able to address India but also to provide us with a strong Manufacturing Backbone to support our production activities in Australia and other parts of the world as well”, he shared.
The first products from the JV will be delivered to the market within the coming few months, with the power system in Pune being the highlight of the launch of the venture. In showing this, the venture will stake its claim as one of the leaders in the upcoming hydrogen revolution.
“The opportunity for us to be able to launch a product to the Indian market at this early stage is reflective of the passion we have at ADVIK to lead our country and the world in terms of being active in new technological advancement,” remarked Aditya on the launch of the JV. “We strongly believe that through our partnership with H2X we come into a position where we can become a global leader in the Hydrogen revolution and strongly position the growth of Hydrogen in India as a strong pillar of growth into the future”, he concluded.