Shares of DEE Development Engineers Ltd (DDEL), a specialised process piping solutions provider for the oil and gas, power, and process industries, surged nearly 8% on Monday, June 9, after the company said it is partnering with International Clean-Tech Partner to boost green hydrogen solutions in India and Thailand.
The collaboration marks the company's formal entry into the green hydrogen sector, targeting the deployment of modular hydrogen production systems in India and Thailand.
Under the newly-signed Memorandum of Understanding (MoU), both companies will co-develop, bid for, and execute Green Hydrogen Production System Projects, DDEL said in a stock exchange filing.
The partnership will combine International Clean-Tech Partner’s global expertise in hydrogen technologies, such as electrolysers, separators, and hydrogen purification systems—with DDEL’s strengths in manufacturing ultra-pure hydrogen purification systems with up to 99.99% purity, project execution, marketing capabilities, and a strong existing customer base.
"With International Clean-Tech Partner’s proven technologies and DDEL’s execution expertise, we are confident of unlocking meaningful progress in India and Thailand’s green hydrogen ambitions. Hydrogen is poised to become a cornerstone of global decarbonisation, and we are proud to lead the way alongside such a capable and visionary partner," Krishan Lalit Bansal, Chairman and Managing Director, DEE Development Engineers, said.
