Cyient spurts on securing strategic contract for green hydrogen project in Bod Norway

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Cyient rallied 4.15% to Rs 1,192.45 after the company received a strategic contract to support GreenH Bod? in the development and execution of a green hydrogen production and distribution facility at Langstranda in Bod?, Norway.

The initiative is part of a joint venture between GreenH, a Norwegian company focused on green hydrogen infrastructure, and Luxcara, a Hamburg-based independent asset manager specializing in renewable energy projects across Europe.

This landmark project marks a significant step toward achieving Norways renewable energy ambitions, particularly in the maritime and heavy transport sectors. The facility will provide green hydrogen fuel under a long-term agreement with Torghatten Nord AS, supporting the Vestfjorden ferriesa flagship effort in Norways maritime energy transformation.

Cyients role encompasses comprehensive owners engineering and detailed plant engineering services. The company will leverage its deep expertise in renewable energy, including green hydrogen, to optimize project delivery and efficiency throughout the lifecycle of the project.

Espen Lied, COO, GreenH, said, We are excited to collaborate with Cyient to bring our hydrogen vision to life in Bod With Cyients expertise, well complete the detailed engineering of our hydrogen plant and provide the basis for procurement, construction, and installation of our first facility for production and direct bunkering of green hydrogen.

Espen Berg, managing director at Cyient Norway, said, Green or clean hydrogen is a game-changer in the worlds energy transition to sustainable fuels, and it is considered an efficient energy carrier. We are extremely proud and happy to have received our large order for the engineering delivery of the worlds first-of-its-kind green hydrogen production for maritime transport.

Cyient is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, and networks and operations.

The companys consolidated net profit fell 16.9% to Rs 122.30 in Q3 FY25 as against Rs 147.20 crore posted in Q3 FY24. However, net sales rose 5.8% YoY to Rs 1,926.40 crore in Q3 FY25.

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