Hygenco Lands $105 Million to Scale Indian Green Hydrogen

A consortium led by the International Finance Corporation, Siemens Financial Services, and Fullerton Carbon Action Fund has injected $105 million into Hygenco Green Energies. This equity infusion marks a pivotal expansion for the Indian firm as it attempts to supply zero-emission fuel to hard-to-abate industrial sectors.

Editorial·June 9, 2026·reads: 2,307

Hygenco Lands $105 Million to Scale Indian Green Hydrogen

The capital injection will accelerate the construction of multiple production facilities, moving Hygenco beyond its current footprint to meet rising demand for clean alternatives to fossil fuels. The funding structure includes $25 million each from the IFC and Siemens, $30 million from Fullerton, and $25 million in blended finance from the Clean Technology Fund and the German-backed Frontier Opportunities Fund. This follows a previous $25 million investment from the Neev II Fund in 2022.

Hygenco plans to leverage this backing to provide green hydrogen and derivatives like green ammonia to sectors such as steel, chemicals, and fertilizers. CEO Amit Bansal noted the move signals market faith in the company's execution capabilities. Beyond industrial decarbonization, the expansion aims to bolster India’s National Green Hydrogen Mission, with the company projecting the creation of over 1,000 direct jobs and thousands of indirect roles across its supply chain over the next five years.