Cyient secures Strategic Engagement with GreenH and Luxcara for Hydrogen Project in Bodø, Norway

Cyient, a global Intelligent Engineering solutions company, has been awarded a strategic contract to support Green H Bodø in the development and execution of its hydrogen production and distribution facility at Langstranda in Bodø, Norway. The project is part of a joint venture between GreenH and Luxcara.

GreenH is a Norwegian company that develops infrastructure for the production and distribution of green hydrogen from renewable energy. Luxcara is an independent asset manager based in Hamburg, Germany, focused on fostering renewable energy projects in Europe.

The Bodø project represents a major step in advancing Norway's renewable energy ambitions, focusing on delivering green hydrogen to the maritime sector and heavy transport industries. The hydrogen facility will supply green hydrogen fuel under a long-term agreement with Torghatten Nord AS, fuelling the Vestfjorden ferries - a cornerstone project in Norway's green energy transformation for the maritime sector. As civil construction began in the fall of 2024, this partnership marks a significant milestone in delivering an innovative and sustainable energy solution.

Cyient's scope of work includes providing comprehensive owner's engineering and detailed plant engineering services. Cyient will leverage its extensive experience in green and renewable energy engineering including green hydrogen towards optimizing project delivery and enhancing efficiency through the lifecycle of this momentous project.

Speaking on the collaboration, Espen Lied, COO, GreenH, said, "We are excited to collaborate with Cyient to bring our hydrogen vision to life in Bodø. With Cyient's expertise, we'll complete the detailed engineering of our hydrogen plant and provide the basis for procurement, construction, and installation of our first facility for production and direct bunkering of green hydrogen."

"Green or clean hydrogen is a game-changer in the world's energy transition to sustainable fuels, and it is considered an efficient energy carrier. We are extremely proud and happy to have received our large order for the engineering delivery of the world's first-of-its-kind green hydrogen production for maritime transport. Based on our strong track record of implementing efficient and cost-effective balance of plant design on all projects that we have executed, we are confident that we can assist GreenH and Luxcara to make this prestigious hydrogen project a great success," said, Espen Berg, Managing Director, Cyient Norway.

Shares of Cyient Limited was last trading in BSE at Rs. 1144.95 as compared to the previous close of Rs. 1147.95. The total number of shares traded during the day was 16156 in over 1447 trades.

The stock hit an intraday high of Rs. 1195.00 and intraday low of 1137.90. The net turnover during the day was Rs. 18741800.00.

Source : Equity Bulls

Keywords

Cyient INE136B01020 StrategicEngagement GreenH Luxcara HydrogenProject Norway