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Union government sanctions three pilot projects for hydrogen use in steel production

India, News

As part of the National Green Hydrogen Mission, the Indian government has approved three pilot projects aimed at utilizing hydrogen in steel production.  The projects include a 50 ton-per-day (tpd) plant by Matrix Gas and Renewables Ltd (in collaboration with Gensol Engineering Ltd, IIT Bhubaneswar, and Metsol AB, Sweden), a 40 tpd plant by Simplex Castings Ltd (partnered with BSBK, Ten Eight Investment, and IIT Bhilai), and a 3,200 tpd plant by Steel Authority of…

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Matrix Gas & Renewables aims to raise up to $143 million in IPO

India, News

Matrix Gas & Renewables, a subsidiary of Gensol Group, is preparing to raise Rs 10-12 billion ($119-$143 million) through an initial public offering (IPO) next year, according to CEO Chirag Kotecha. The funds will support the company’s ambitious plans to develop 1,000 MW of green hydrogen projects over the next three years. With India’s equity market seeing a surge in IPOs, Matrix Gas aims to capitalize on favourable market conditions. The company plans to allocate…