Categories: Agreements

L&T signs agreement with France-based McPhy for electrolyzer manufacturing

Larsen & Toubro (L&T), an Indian multinational that specializes in EPC projects, hi-tech manufacturing, and services, has signed a binding agreement with McPhy Energy, a leading electrolyzer technology and manufacturing company based in France. The agreement establishes a long-term partnership between the two companies to explore opportunities in the emerging green hydrogen market. Specifically, L&T and McPhy Energy will collaborate on electrolyzer manufacturing, which is a key technology for the production of green hydrogen.

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As part of the partnership, McPhy Energy has granted L&T an exclusive license to use its pressurized alkaline electrolyzer technology for manufacturing electrolyzers, including future upgrades. L&T plans to establish a large-scale manufacturing facility in India for electrolyzers based on McPhy’s technology. The facility will produce electrolyzers for both domestic and international markets. This partnership is in line with L&T’s strategy to expand its presence in the green energy value chain and supports McPhy’s goal of expanding beyond Europe. According to estimates, India’s green hydrogen production capacity is expected to increase to at least 5 MMTPA by 2030, which will require investments of more than $100 billion.

Important takeaways for all competitive exams:

Larsen & Toubro (L&T) CEO: S N Subrahmanyan (Jul 2017–);
Larsen & Toubro (L&T) Founded: 7 February 1946, Mumbai;
Larsen & Toubro (L&T) Headquarters: Mumbai.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.