Hyundai, IIT-M to set up Hydrogen Valley Innovation Hub to promote green solutions
Auto-maker Hyundai Motor India and the Indian Institute of Technology, Madras here is set establish a Hydrogen Valley Innovation Hub at an outlay of Rs 180 crore, which would promote hydrogen-based clean energy solutions in various applications and sectors.
A memorandum of understanding between Hyundai Motor India, IIT-Madras, and the state government’s investment promotion agency Guidance Tamil Nadu was signed during the Global Investors Meet held recently. “The Hydrogen Valley Innovation Hub project, with a total project cost of Rs 180 crore, will be established with an investment of Rs 100 crore by Hyundai Motor India Ltd, towards its capital expenditure requirements,” a press release from IIT-Madras said on Friday.
