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Multi-million deal: SFC Energy secures major contract from Indian government
Investing.com -- Fuel-cell supplier SFC Energy (ETR:F3CG), together with its strategic partner FC TecNrgy Pvt. Ltd., has received a significant order from the Indian Ministry of Defence. The order covers delivery of 900 stationary methanol fuel-cell generators over a period of one year, as well as their maintenance and repair for five years. The initial order is worth over €17.5 million.
The fuel-cell solutions assembled by SFC Energy India Ltd. and FCT in Gurugram, India, will be used by infantry and special forces units to provide clean power for charging batteries, powering sensors, surveillance, and communication systems, as well as electrification in remote areas, high altitudes, and under extreme climatic conditions.
The order from the Indian Defense Forces is part of the "Make in India" initiative of the Indian government, which aims to replace environmentally harmful energy systems with sustainable solutions. SFC Energy's fuel-cell solutions are characterized by high reliability, transportability, and economical consumption of operating fuel methanol.
Dr. Peter Podesser, CEO of SFC Energy AG, emphasizes the importance of the major order for the company and climate protection goals of the Indian government. Together with FCT, SFC Energy is working to achieve a climate-neutral society and to support the ambitious goals of the Indian government under the "National Green Hydrogen Mission."
Colonel (ret.) Karandeep Singh, managing partner of FCT, praises the robustness of jointly developed fuel-cell generators and is pleased about production of the advanced fuel cells under the "Make in India" initiative.
The major order from Indian Defense Forces is another milestone for SFC Energy and underlines the company's competitiveness in the market for hybrid power supply solutions.
SFC Energy shares advanced a good 3.3% on Lang & Schwarz trading platform. Most recently, the stock changed hands for €24.02.
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