Gensol Engineering Limited (BSE: 542851, NSE: GENSOL) has partnered with Matrix Gas & Renewables to establish India’s first and largest Green Steel production facility, powered entirely by Green Hydrogen. This initiative, supported by the Government of India with a 50% capital expenditure incentive, represents a significant advancement in sustainable steel manufacturing.
The facility will employ direct reduced iron (DRI) vertical shaft technology, designed for Indian-grade ore, and aims to support similar projects for medium- to small-scale producers in Chhattisgarh, Odisha, and beyond. By replacing fossil fuels with green hydrogen, this project will eliminate CO₂ emissions associated with traditional sponge iron production.
The consortium, which includes Gensol, Matrix, the Indian Institute of Technology Bhubaneswar, and Metsol AB (Sweden), will manage all phases of the project. Chirag Kotecha, Whole-time Director of Matrix, expressed pride in leading this transformative project, emphasizing its role in advancing India’s clean energy transition and sustainable practices.