Indian Navy Partners with Indian Oil for Hydrogen Fuel Cell Bus Trials
Indian Oil Corporation Ltd (IOCL), a state-owned oil major, announced that it has delivered a cutting-edge green hydrogen fuel cell bus to the Indian Navy. This initiative is part of a collaboration aimed at advancing hydrogen and fuel cell technology for heavy-duty electric mobility, positioning the Indian Navy as a leader in evaluating this technology alongside the company.
The Memorandum of Understanding was signed in the presence of Admiral Dinesh K Tripathi, Chief of Naval Staff, S M Vaidya, Chairman of Indian Oil, and senior officials from both Indian Oil and the Indian Navy. The MoU was exchanged at Nau Sena Bhawan, New Delhi, between Vice Admiral Deepak Kapoor, Controller of Logistics for the Indian Navy, and Dr. Kannan Chandrasekaran, Executive Director of Indian Oil.
Speaking at the collaboration with the oil major, Admiral Dinesh K Tripathi, the Chief of Naval Staff of the Indian Navy said, "The partnership between IndianOil and the Indian Navy is built on an unbreakable bond of trust. We will be testing one of the hydrogen buses and looking forward to deploying environment-friendly transportation in larger numbers, and I must thank IndianOil for choosing the Indian Navy as their partner. The bus will adorn our motto of - "Indian Navy - Combat Ready, Credible, Cohesive and Future Ready Force".
S M Vaidya, Chairman, of Indian Oil, expressed his enthusiasm about this initiative, stating, "Today, we come together to celebrate a significant milestone in our shared pursuit of sustainability and environmental stewardship through this advanced Green Hydrogen fuel cell bus to the Indian Navy, symbolizing our commitment to innovation and green technology". He further added, "As we continue to support our defence forces with innovative, forward-looking solutions that cater to tomorrow's needs. Indian Oil has been leading the way in advancing Green hydrogen and fuel cell technologies".
Indian Oil is currently operating 15 fuel cell buses in Delhi-NCR and Gujarat, with a total accumulated mileage of 300,000 km. Each bus is expected to cover at least 20,000 km. This initiative aims to promote hydrogen and fuel cell technology for heavy-duty electric mobility, positioning the Indian Navy as a pioneer in evaluating this technology in collaboration with Indian Oil, India's premier energy company. The project will assess the performance of fuel-cell electric buses for public transit in the challenging climatic conditions of the Delhi NCR region, analyzing the impact of local fuel and air quality on the performance of fuel-cell systems and vehicles. Additionally, it will evaluate the effectiveness, longevity, and operational reliability of fuel cell buses intended for public fleet use.
Previously, the rating agency Moody's affirmed a stable outlook for state-owned oil companies Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Limited (BPCL). Moody's acknowledged IOCL's robust balance sheet and its position as India's largest refining and marketing company. Indian Oil Corporation Ltd (IOCL) is a leading downstream company specializing in oil refining, marketing, and the distribution of petroleum products, petrochemicals, and natural gas. The company is listed on Indian stock exchanges and was 51.5% owned by the Indian government as of June 30, 2024.
