Thermax Limited and Hindustan Petroleum Corporation Limited (HPCL) have signed a memorandum of understanding (MoU) to collaborate on sustainable energy technologies, including green hydrogen, carbon capture and bio-based fuels.
The agreement, announced on the sidelines of India Energy Week 2026, aims to facilitate joint research, technology development and deployment in emerging energy areas such as high-pressure anion exchange membrane (HP AEM) electrolysers, CO₂ capture solutions and bio-pyrolysis oil processing.
The partnership is expected to support India’s energy transition and strengthen domestic capabilities in clean energy technologies in line with the Make in India initiative.
“India’s energy transition will be driven by strong partnerships. Combining Thermax’s technology expertise with HPCL’s R&D capabilities and operational scale will help accelerate solutions across green hydrogen, carbon capture and bio-based fuels,” Thermax MD and CEO Ashish Bhandari said.
The collaboration will focus on exchanging scientific information, undertaking joint research and encouraging demonstration projects to move innovations from pilot stages to commercial deployment.
HPCL, one of India’s largest integrated oil refining and marketing companies, operates refineries on both the east and west coasts and has an extensive fuel retail and logistics network. Thermax, a major player in energy and environment solutions, has operations across clean energy, water, air and chemical technologies.
The MoU reflects growing momentum among Indian energy and industrial players to invest in low-carbon technologies and develop indigenous solutions for the country’s clean energy transition.
