Thermax Limited, a leading energy and environment solutions provider, and Hindustan Petroleum Corporation Limited (HPCL), a Maharatna Public Sector Enterprise, have signed a strategic Memorandum of Understanding (MoU) at India Energy Week 2026. The partnership aims to advance sustainable energy technologies through joint research, scientific exchange, and deployment in emerging areas such as HP AEM electrolysers, CO₂ capture solutions, and bio-pyrolysis oil processing.
The collaboration is expected to accelerate the adoption of indigenous, sustainable energy solutions while supporting India’s “Make in India” vision and the nation’s broader energy transition and climate objectives.
Commenting on the partnership, Ashish Bhandari, MD & CEO, Thermax Limited said, “India’s energy transition will be driven by strong partnerships, and this collaboration between Thermax and HPCL reflects that belief. Combining Thermax’s technology and product expertise with HPCL’s complementary R&D, operational excellence and scale, the partnership will advance solutions across green hydrogen, carbon capture and bio-based fuels-accelerating the journey from innovation to on-ground implementation.”
Thermax Limited (NSE: THERMAX) is a leading conglomerate in the energy and environment sector, providing solutions across clean air, clean energy, clean water, and chemicals. With extensive industry partnerships and 16 manufacturing facilities across India, Europe, and Southeast Asia, Thermax leverages engineering expertise, digital solutions, and operational excellence to convert costs into profits while ensuring environmental sustainability. The company has over 45 Indian and international subsidiaries and specializes in audit, consulting, execution, and maintenance for energy and environment management.
HPCL operates two major refineries on India’s East and West Coasts and holds stakes in HMEL and MRPL joint ventures, with a greenfield refinery under construction in Rajasthan. The company manages a vast marketing network of 24,572 retail outlets and 6,389 LPG distributorships, supported by 80 POL depots/terminals, 2 LPG import facilities, 55 LPG bottling plants, 59 aviation fuel stations, and 5,440 km of pipelines. HPCL, along with its joint ventures and subsidiaries, also operates a 5 MMTPA LNG terminal in Gujarat and has authorization to develop CGD networks in 25 areas, underlining its role in meeting India’s growing energy demand.
