Hygenco Green Energies

Hygenco Green Energies, a Gurugram based pure-play green hydrogen platform, is poised to
capitalize on the burgeoning clean fuel market in India. Fueled by a $2.5 billion investment plan
over three years, the company is setting up projects across multiple states, targeting sectors
with difficult-to-reduce emissions. Hygenco's expertise in green hydrogen production and
ammonia conversion positions them strategically for both domestic and international growth.

Current Operations and Expansion Plans:

 Existing Production: Hygenco operates two plants,

a. an R&D-cum-demonstration unit of around 140 KW in Ujjain, MP.
b. a second plant of around 3 MW RE capacity is currently in the final commissioning stage
in Hisar, Haryana.

It has two more plants, with a combined capacity of 15 MW in Phase-I, under construction in
Maharashtra.

They are doing projects for Sterlite Technologies Limited (STL) and Jindal Stainless. STL
has collaborated with Hygenco for the supply of Green Hydrogen to its manufacturing
plants. Hygenco has also signed India’s first long off take agreement with Jindal Stainless
(JSL). Hygenco will build-own-operate the green hydrogen facility for 20 years, before
transferring ownership and operations.

 Expansion Projects: Targeting 50-200 MW projects across seven states, Hygenco focuses
on refineries, steel, fertilizers, and other high-emitting industries.
 Future Vision: Pipeline of projects exceeding $10 billion, including green ammonia
production for export and domestic use.

Competitive Advantages:

 Technology Expertise: Proven track record in designing, engineering, and implementing

cost-effective green hydrogen production.
 Build-Own-Operate Model: Ensures control over project development and
operation, optimizing efficiency and profitability.
 Strategic Partnerships: Collaborations with Al Jomaih Energy & Water (Middle East) and
local partners in target countries for overseas expansion.

Investment Potential:

 Government Support: Winner of PLI scheme for green hydrogen production, securing 75
KTPA capacity and 2 GW renewable energy capacity over three years.
 Strong Financials: Recently raised $25 million from SBICAP Ventures managed Neev II
Fund and seeks $2-3 billion for the next 2-3 years, indicating investor confidence.
 Long-Term Growth: Green hydrogen presents a significant opportunity in India's energy
transition, promising substantial market potential.
CEOs and Directors:

 Amit Bansal, Co-Founder & CEO

 Aashish Gupta, Co-Founder
 Anshul Gupta, Co-Founder
 Anjana Seshadri, Director
 Suken Kirit Shah, Director