Company Presentation
Greenzo's Green Hydrogen Story details Greenzo Energy India Limited's journey and capabilities in the green hydrogen sector. The company is ISO 9001-14001 certified.
Company Overview and Timeline: Greenzo Energy India Limited is registered in India as of November 2022. They have a subsidiary company registered in the UK. The company signed an MOU with the Gujarat Government in December 2022 for 250 MW and another MOU in February 2023 with API & TROJEN ENERGY for 58 MW & Land Allotment. The approved building plan, NOC, and water/electricity connections were secured in July 2023. The Groundbreaking Ceremony by Shri Amit Shah took place in October 2023. The revenue generation is planned for March 2024 and product launch in April 2024. Their electrolyzer has an efficiency of 70% + and the hydrogen gas purity is 99.999%.
Leadership: Greenzo is led by a team of technocrats with experience in organizations like NTPC and young professionals from institutes like IIT and NIT. Sandeep Agarwal is the Founder & Managing Director. Other key leaders include Er. Vipin Garg, Er. KC Niraula, Dr. Sachin Tomar, Er. Ravi Virdi, Mr. Bharat Gupta, Mr. Raj Agarwal, Mr. Kushal Agarwal, and CA Amit Singal.
Electrolyzer Technology: Greenzo Energy manufactures electrolyzers and BOP and is the only indigenous manufacturer of electrolyzer + BOP in India. They utilize alkaline electrolyzers due to their lower capital costs compared to PEM electrolysis. Alkaline electrolyzers do not depend on noble metals, making hydrogen production cost-effective, and are designed to cater to India's environmental needs with an operating range of -20°C to 60°C and a lifespan of 20 years. The company's electrolyzer stacks can produce from 100 Nm3/hr to 1000 Nm3/hr, operating at 0.5 MW, 1 MW, 2MW, and 5MW. The electrolyzer requires 42-44 kWhr of electricity to split water into hydrogen and oxygen, compared with 50-55 kWhr of a typical alkaline electrolyzer. By producing hydrogen at 30 bar, the electrolyzer eliminates the need for additional compressors saving energy costs, reducing equipment needs, and enhancing overall.
Manufacturing and Production: Greenzo Energy India Limited has launched India's first indigenous green hydrogen alkaline electrolyzer equipped with robotic solutions. The company has an existing 250 MW Electrolyzer Production Facility at Gujarat and plans for two plants in Goa and Odisha by 2030. The Ahmedabad facility will produce 250 MW of electrolyzers per year. One 5MW electrolyzer system will produce 2135 kg of H2 per day. Highlights for FY 2023-24 include electrolyzer production installed to 250 MW by January 2025, multiple green hydrogen projects with a capacity of 125 MW, and a commitment to 250 MW of solar projects across India. The company’s existing 250 MW capacity is planned to expand to 2 GW by 2030.
Market Opportunity: India is targeting 280 GW of solar installations by 2030, with a CAGR of over 52% from 2023 to 2028, resulting in investments up to $792.5 billion during 2023-28. The green hydrogen market in India is projected to be 340 Bn by 2050, with 5 Mn Tons per year planned manufacturing of green hydrogen by 2030 in India. 10% of global demand by 2050 will be from India. Identified markets with a high electrolysis potential exceeding 2,000 GW include industrial hydrogen applications. Strong momentum within mobility, especially within heavy-duty vehicles (HDV).
Greenzo Today: Greenzo has installed 250 MW of electrolyzer production by January 2025, expanding to 2 GW by 2030. It has multiple green hydrogen projects with a capacity of 125 MW. A secured order of 58 MW of electrolyzers at over INR 1250 crore and committed 250 MW of solar projects. The company has a 1250 Crore Order Book in FY24 and is present in 10+ countries.
Strategic Advantages: Greenzo Energy’s electrolyzers are AI and IoT-based, feature enhanced safety, water management systems, operate in a wide temperature range, use pressurized alkaline technology (32 bar) with a compact footprint. They also feature a bi-polar design for enhanced adaptability and are integrated with renewable energy sources (solar, wind). The company possesses one established subsidiary in London, a committed talent pool of 250+ professionals, and boasts over 25 years of experience at the Group level. It offers comprehensive after-sale services and technical support, ensuring all systems are fully repairable within India, and long-term service agreements with locally present teams.
Turnkey Solutions: Greenzo operates across the renewable energy value chain, providing engineering, procurement, and construction (EPC) services in solar and hydrogen projects, alongside electrolyzer production and the development of scalable green hydrogen solutions.
Partnerships: Greenzo is actively pursuing partnerships to expand its capabilities. These include collaborations with:
Key Operational Highlights for FY23-24: Secured Green Hydrogen Project at Ennore Supercritical Thermal Power Plant. Signed MoU with RBM Infracon, to set up 15 MW of green hydrogen projects in Gujarat. Received 500 kW Solar Project Integrated with a 170 kW Green Hydrogen Plant and 50 kW fuel cell project at Gujarat from Felix Industries and received 5.95 Crore Letter of Credit from Durga Steel in Nepal for a 50 Crore project.
Financials: The company's order book stood at INR 1400 Crore in October, 2024 with continued substantial growth. The FY2024 revenue snapshot is 15 Cr with 1Cr PAT (9% PAT Margin). Revenue targets are 100 Cr in FY2025, 800 Cr in FY2026, 1500 Cr in FY2027, 2500 Cr in FY2028, and 5000Cr in FY2029. Funds Raised in Round 1: Pre-Money Valuation 430 crore with 60% towards R&D, 24% Land & Infra, 7% Machinery, and 9% Other Operational Expenses. Funds to be Raised in Round 2: Pre Money Valuation -1200 Cr., 40% Robotic & Automisation, 40% Backward Integration & Electroal coating Plant, and 20% Electroal Plating Plant.
2025 Priorities: Greenzo's priorities for 2025 include scaling up green hydrogen production capacity and solar projects, exploring new technologies like ammonia synthesis and carbon capture, backward integration to manufacture all critical components in-house, and strengthening financial liquidity and operational efficiency with additional 50 Crore funding for market expansion, technology integration, innovation, and product development.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
