Thermax Ltd. is set to make a substantial investment in enhancing its green hydrogen production capabilities in India by establishing a manufacturing plant for solid oxide electrolysers. This move comes following the company's recent collaboration with UK-based Ceres Power Ltd. to advance solid oxide electrolysis cell (SOEC) technology for green hydrogen production. As part of the partnership, Thermax will be responsible for manufacturing, marketing, and servicing stack array modules that utilize Ceres' SOEC technology. The company aims to construct a manufacturing facility, create the necessary supply chain, and localize key components in the next two years. CEO Ashish Bhandari has expressed readiness to invest hundreds of crores in this initiative, highlighting the importance of green hydrogen for industries like steel, petrochemicals, and fertilizers in their decarbonization efforts. Bhandari believes that solid oxide technology will be instrumental in accelerating India's shift towards green energy. Despite facing one-time impacts in bio-CNG and project sectors in the first quarter, Thermax is confident that focusing 70% of its order book on green energy solutions will lead to improved profit margins in the future.