Hygenco, REC enters into MoU to finance green ammonia project

19 Sep 2024 CW Team

Hygenco Green Energies, a producer of green hydrogen, announced that it has entered into a memorandum of understanding (MoU) with REC Ltd to finance Hygenco’s green ammonia project in Gopalpur, Odisha. Under the terms of the MoU, REC is set to fund up to $280 million for the project, while Hygenco plans to invest approximately $2.5 billion over the coming years in its green hydrogen and green ammonia initiatives across India.

Amit Bansal, the co-founder and CEO of Hygenco, stated that their projects aim to reduce carbon emissions and contribute to a sustainable future. The MoU was formalised during the 4th Global Re-Invest conference held in Gandhinagar, Gujarat.

In March 2024, Hygenco commissioned India’s first commercial green hydrogen plant in Hisar, Haryana. In 2022, the company signed India’s first long-term offtake agreement for green hydrogen related to the Hisar project with Jindal Stainless. Hygenco has also entered into agreements with major companies, including Sterlite Technologies, to supply green hydrogen.

The company aspires to become a global leader in green hydrogen and green ammonia solutions, with the goal of establishing projects that will help decarbonise industries that are typically difficult to abate, such as steel and chemicals.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..