BHEL signs MoU with Singapore-based company for hydrogen fuel cell rolling stock

New Delhi: State-run Bharat Heavy Electricals Limited (BHEL) has signed a long-term exclusive memorandum of understanding (MoU) with Horizon Fuel Cell Technologies Pte Ltd of Singapore, the company said in a regulatory filing on Friday.

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According to the filing, the MoU covers cooperation on “hydrogen fuel cell-based rolling stock” for the domestic market, with exclusivity for a period of 10 years.

Domestic market focus

The scope of the agreement is structured around “business sharing” and is aimed at creating and entering a new market segment in India. The filing noted that there is no share exchange or consideration involved in the arrangement.

Clean mobility ambitions

By tying up with Horizon Fuel Cell Technologies, BHEL is looking to expand into the hydrogen-powered transport segment as India pushes for cleaner mobility solutions. The company described the rationale as “creation and entry of a new market segment.”

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