DEE Development Engineers Ltd. Diversifies into Hydrogen Production Amid India's Green Hydrogen Mission
Key Ideas
  • DEE Development Engineers Ltd. is entering the hydrogen production sector by acquiring a stake in Maldives Design Ltd, focusing on hydrogen purification plants and more.
  • The company aims to capitalize on India's National Green Hydrogen Mission, targeting to become a key player in green hydrogen technology by 2030.
  • Through strategic partnerships and technology collaborations, DEE plans to manufacture complete hydrogen plants to support the mission's goal of producing five million metric tonnes of green hydrogen yearly.
  • DEE anticipates a substantial revenue increase from Rs 827.36 crore to Rs 1,300 crore in the upcoming year as it expands its presence in the hydrogen market.
DEE Development Engineers Ltd, an engineering solutions provider based in New Delhi, is venturing into hydrogen production to leverage the growing opportunities in the sector. The company recently acquired a majority stake in Maldives Design Ltd, a company specialized in manufacturing nitrogen and oxygen plants, hydrogen purification plants, and ammonia crackers. This strategic move is part of DEE's expansion plan into the hydrogen market. The Chairman and Managing Director, Krishan Lalit Bansal, expressed optimism about the business prospects in hydrogen production, especially with the Indian government's National Green Hydrogen Mission aiming to position the country as a global leader in green hydrogen technology by 2030. DEE intends to establish technology partnerships to produce complete hydrogen plants, aligning with the mission's target of generating five million metric tonnes of green hydrogen annually. The company anticipates a significant revenue growth from Rs 827.36 crore in the previous fiscal year to Rs 1,300 crore in the upcoming year as it solidifies its presence in the hydrogen sector. This strategic move not only aligns with the country's green energy goals but also showcases DEE's commitment to fostering sustainable solutions and reducing dependency on fossil fuels.
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