In a bid to tap on the hydrogen opportunity, pipes and infrastructure solutions provider MAN Industries had expanded into making hydrogen transportation pipes. The company hopes to deliver up to 5 lakh tons annually from their existing setup.
Nikhil Mansukhani, Managing Director at
MAN Industries tells CNBC-TV18, “...We can now seamlessly deliver up to 5 lakh tons annually from our existing setup, incurring only a marginal capex of
₹40-50 crore.”
This comes after the successful testing of its pipes for safe hydrogen transportation conducted by RINA Consulting - Centro Sviluppo Materiali S.p.A., Italy.
The company is hopeful that this will enable it to address a major hurdle in the shift to a hydrogen-based ecosystem i.e. efficiently delivering hydrogen gas to the point of use.
He added, “Since last 14 months continual testing was going on for safe hydrogen transportation conducted by a leading European research and development centre, finally the success is achieved.” In the last one year, the company’s stock price has soared by 287%.
Mansukhani added hydrogen is emerging as a game-changer in alternative fuel, bringing a revolution to the energy sector. “The opportunity for us is substantial because the transport pipelines for hydrogen will be entirely new on a global scale, distinct from the conventional oil and gas pipelines. This presents a massive opportunity, especially with the world moving towards Net Zero carbon emissions by 2050.”
According to Arthur D Little, an international management consulting firm, the hydrogen generation market in India is estimated to reach $22-23 billion by 2030.
Commenting on the market opportunity, Mansukhani said, “The demand for hydrogen is significant until 2050, although it's too early to pinpoint specific figures. MAN is well-prepared to embrace upcoming hydrogen projects worldwide.”
A significant portion of the company's sales come from overseas markets – around 70-75%. “Supplying these pipes to any corner of the world wouldn't pose a challenge for us.” claimed Mansukhani.
The company is one of the largest manufacturers and exporters of large diameter carbon steel line pipes. These pipes are used to deliver for oil & gas industry, petrochemicals, water, dredging & fertilisers, hydro-carbon and CGD Sector.
