Thermax Limited — Important, 12-08-2025: Arrangements for strategic, technical, manufacturing, or marketing tie up

Thermax has forged a strategic partnership with HydrogenPro ASA through a technology licensing and supply agreement for alkaline electrolysers. This grants Thermax exclusive rights in India to manufacture, supply, install, commission, and provide after-sales services for these systems, leveraging HydrogenPro's proven technology. This move significantly expands Thermax's green hydrogen portfolio, aiming to deliver integrated, localized solutions for industrial decarbonization across India. The collaboration positions Thermax to offer end-to-end EPC execution of green hydrogen projects, strengthening its role in India's energy transition.