Indian green hydrogen company Ohmium International announced a successful fund raise of $250m.
The funds are earmarked to help Ohmium grow its business to 2 GW in annual manufacturing capacity. The investment will also help Ohmium boost its R&D spending to reduce the costs involved with green hydrogen production.
Ohmium is a US-headquartered company but has an Indian headquarters in Bengaluru where it manufactures its advanced design PEM (Proton Exchange Membrane) electrolyser.
Ohmium sees India as a lower-cost manufacturing hub, with the added advantage that the country represents a viable alternative to China in the global supply chains.
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