ZFI and Waaree sign EAAS deal for 2.5 MW electrolyzer, plan 50 MW expansion

Zero Footprint Industries Ltd (ZFI) and Waaree Clean Energy Solutions Private Limited, a wholly owned subsidiary of Waaree Energies Limited, have signed an Electrolyzer as a Service (EAAS) agreement for a 2.5 MW alkaline electrolyzer system, along with a strategic memorandum of understanding for an additional 50 MW of electrolyzer capacity through the same model. The agreements were announced on February 23, 2026.

The agreements cover equipment supply for ZFI’s green hydrogen expansion project in Uttar Pradesh and several decentralized small-scale green hydrogen projects across Northern India.

Under the EAAS agreement, Waaree Clean Energy Solutions will design, engineer, supply, install, commission, own and operate a 2.5 MW alkaline electrolyzer system manufactured at its Dungri plant in Gujarat. The company will provide hydrogen and oxygen to ZFI under a 15-year long-term contract supporting ZFI’s expansion in Uttar Pradesh.

The project is expected to generate around 41 lakh Nm³ of green hydrogen and 20 lakh Nm³ of green oxygen each year. The output will mainly serve ZFI’s existing customers in the mentha oil, chemical, steel and pharmaceutical sectors, supporting their shift from grey hydrogen to green hydrogen.

The agreement includes alkaline electrolyzer stacks designed for continuous operations with a capacity of 500 m³/hr, with potential expansion to 10,000 m³/hr across multiple locations over the next five years. The projects target renewable-powered green hydrogen production for decarbonisation of process industries and inland transport across road, rail and water segments.

The first project will follow a fast-track execution schedule of about seven months. Stack delivery is planned for the second quarter of fiscal year 2026-27, with commercial operations expected by the third quarter.

“This EAAS agreement with ZFI represents an excellent opportunity for Waaree to demonstrate not only its advanced alkaline electrolyser technology but also its strong Operations & Maintenance capabilities,” said Anuj Sharma, Chief Executive Officer (CEO) of Hydrogen business at Waaree.

Anurag Agarwal, Director at ZFI, stated that the collaboration enables the company to establish multiple decentralized green hydrogen plants with a cumulative capacity of about 10,000 m³/hr. Following commissioning, the project is expected to reduce approximately 70,000 metric tonnes of carbon annually, equivalent to planting about 400,000 trees.

Shardul Kulkarni, Managing Director (MD) and CEO of Deesha Power Solutions and Board Advisor to ZFI, said EAAS reflects the evolving green hydrogen market in India and globally. “In a sense, it is a unique and win-win offering benefiting both the stakeholders — getting technically and financially responsible partner for green hydrogen developers and steady state electrolyzer pipeline resulting into predictable revenue for electrolyzer manufacturers in long run,” said Kulkarni, who conceptualized and structured the agreement terms.

The project is supported by the Uttar Pradesh New & Renewable Development Agency (UPNEDA) under its Green Hydrogen Policy 2024 and aligns with India’s National Green Hydrogen Mission target of 5 million metric tonnes per annum of green hydrogen production.

ZFI has earlier commissioned India’s first merchant green hydrogen plant of 250 m³/hr in Uttar Pradesh and is offering green mobility solutions for the state through UPNEDA. Waaree is involved in the manufacturing and sale of electrolysers and related systems, including construction, installation, operation and maintenance of hydrogen generation systems in India.