The cooperation is intended to utilise the combined market skills and technologies of both companies to best meet the hydrogen development needs in India.
Under the scope of the MoU, Hydrexia and NovaAir will work closely to jointly explore potential business projects leveraging NovaAir's local business development capabilities as well as Hydrexia's technologies and solutions in hydrogen purifications, hydrogen refuelling station (HRS) and hydrogen transportation and storage.
The planned cooperation adds significant values to Hydrexia's fast-growing market expansion in the Asian market following recent successful business initiatives in the region. The cooperation with NovaAir will further reinforce the strong commitment of Hydrexia to serve hydrogen business needs in the region by collaborating with local partners.
"The MoU adds a new dimension to the rapid growth of our business in Asia. We are extremely happy to work with NovaAir to develop the hydrogen market in India," said George Gan, CEO of Hydrexia Southeast Asia. "The new venture will also help us to best utilise our hydrogen technology solutions to serve the needs of our customers in India."
"We are happy to have chosen Hydrexia as our partner to develop the hydrogen market locally. Hydrexia has clearly demonstrated its technological competitiveness to address the market needs," said Gajanan Nabar, Managing Director and CEO of NovaAir. "Our combined market skills and technologies will enable us to best serve the needs of the hydrogen market going forward."