Ducon Infratechnologies Limited (BSE:534674, NSE: DUCON), ("DUCON", "Company") India's leading Fossil Fuel Clean Technologies Co. announced that it has set up a new business division, "Hydrofule" (www.hydrofule.com), in its wholly owned USA based subsidiary to carry out Research & Development work on building a large scale economical Green Hydrogen Electrolyzer that will work with Solar Energy to achieve a conversion efficiency of at least 70%
- The zero-carbon fuel, Green Hydrogen, which has the best environmental credentials among the cleaner-burning fuels, is made using renewable power from wind or solar sources to split water into hydrogen and oxygen through an electrolyzer.
- Currently, regular electricity to hydrogen electrolyzers provide over 70% efficiency but they do not generate Green Hydrogen because they use electricity from fossil fuels. On the other hand, existing efficiencies of Solar to Hydrogen Electrolyzerswhich produce green hydrogen are about 20% due to which Green Hydrogen business has not been commercially viable.
- Hydrofule's research will focus on reducing the production cost of Green Hydrogen by improving the Photovoltaic-Electrolysis system efficiency through minimizing the water splitting voltage and deploying high efficiency electrocatalysts in the electrolyzer. Hydrofule plans to develop a prototype with hybridization of semiconductor oxide photoelectrodes,with noble metals and their nanocomposites that can provide enhanced electron mobility and photostability for better electrochemical performance and a solar to hydrogen conversion efficiency greater than 70%.
Arun Govil, Chairman of Ducon said, "this new business will be housed in our wholly owned USA subsidiary of the Company and will file for patents as and when possible. As the Indian government has laid out ambitious plans for India to become a leader in Green Hydrogen production, we will be making significant investment in research& development during the coming yearsto leveragethis transformational CleanTechnologies opportunityby developing the most cost-effective solar hydrogen electrolyzer. The global capacity for water electrolysis technologies is expected to reach approximately 104.6 GW by 2031, growing at a compound annual growth rate (CAGR) of 62.6 percentand the global Green Hydrogen market whichwas $0.3 billion in 2020, is expected to reach $9.8 billion by 2028." "Green hydrogen will be an essential part of our future as it will be a crucial enabler of global transition to sustainable energy and net zero emissions provided it can be produced more economically than the current cost."continued Mr. Govil.
Shares of Ducon Infratechnologies Limited was last trading in BSE at Rs. 22.30 as compared to the previous close of Rs. 21.30. The total number of shares traded during the day was 70797 in over 530 trades.
The stock hit an intraday high of Rs. 22.35 and intraday low of 20.65. The net turnover during the day was Rs. 1562588.00.