Hindustan Zinc has signed an MoU with Advantek Associates and Aero Eagle Automobiles to explore green hydrogen and other clean energy solutions across its mining operations, the company said in a regulatory filing to stock exchanges.
The world’s largest integrated zinc producer and one of the top ten silver producers globally said the partnership will look at hydrogen-based technologies for use in underground mining, heavy earth-moving machinery, surface vehicles and generators.
If the underground mining application moves ahead, the company said it would be the only player attempting to deploy hydrogen fuel technology in that setting.
Focus on feasibility first
As per the exchange filing, the collaboration will begin with feasibility studies covering technical, operational, safety, environmental and financial aspects. Depending on the outcomes, the companies may expand the scope to a broader rollout across mining equipment and other operational assets.
The scope of work includes assessing green hydrogen generation, storage and dispensing infrastructure, as well as evaluating Hydrogen Internal Combustion Engine and fuel cell technologies for use in mining and industrial settings.
Hindustan Zinc targets net zero by 2050 rationale
Hindustan Zinc has set a target of becoming net zero by 2050 or earlier, and the company has flagged mining and heavy industry as sectors that are difficult to decarbonise because of their reliance on high-capacity, energy-intensive equipment.
“At Hindustan Zinc, we are focused on pioneering solutions that can redefine the future of sustainable mining. Hydrogen has the potential to support cleaner mobility, reduce emissions from heavy-duty equipment and create new pathways for decarbonising hard-to-abate industrial operations. This collaboration is a forward-looking step in evaluating hydrogen-based technologies, including their potential application in underground mining, as we continue to build a future-ready metals business aligned with global sustainability benchmarks.” Arun Misra, CEO, said.
The company currently sources nearly 18% of its power from renewable sources, according to the release. Hindustan Zinc, a Vedanta Group company, supplies zinc to more than 40 countries and holds close to a 74% share of India’s primary zinc market, the company said.
Hindustan Zinc share performance
Hindustan Zinc’s share price has been down 3.22% as of intraday on Tuesday. The stock has been down 12.87% in the past month. However, it has delivered a 25.51% gain in the past 1 year.