: Govt provides Rs 3.29 cr financial aid to startup for domestic development of Hydrogen Sensing & Analysis Tech #FinanceIndia #StockMarketNEWS Govt provides Rs 3. 29 cr financial aid to startup for

@StockMarketNEWS Mon 22 Aug, 2022

Posted in: #FinanceIndia #StockMarketNEWS

Govt provides Rs 3.29 cr financial aid to startup for domestic development of Hydrogen Sensing & Analysis Tech #FinanceIndia #StockMarketNEWS
Govt provides Rs 3. 29 cr financial aid to startup for domestic development of Hydrogen Sensing & Analysis Tech New Delhi, Aug 20 (KNN) Union Minister of State (Independent Charge) Science & Technology Dr Jitendra Singh on Friday announced financial aid of Rs 3. 29 crore to a Hydrogen StartUp from Maharashtra for indigenous development of Hydrogen Sensing & Analysis Technology.

He said that the Hydrogen Startup funding is in tune with Prime Minister Narendra Modis vision of National Hydrogen Mission (NHM) launched on India’s 75th Independence Day last year.

“NHM aims to aid the government in meeting its climate targets and making India a green hydrogen hub,” he added.

This will help in meeting the target of production of 5 million tonnes of Green hydrogen by 2030 and the related development of renewable energy capacity, the Minister said.

He presided over the signing of a MoU between Technology Development Board under DST and M/s Multi Nano Sense Technologies Private Limited, Maharashtra to support the manufacturing of Hydrogen sensors indigenously.

The Minister said the company is developing an indigenous cutting edge hydrogen analysis sensor for new age applications.

The development is also related to the universal miniaturised core sensor designs for leak detection and/ or analysis of hydrogen.

The patented hydrogen gas sensor and analyser is based on a core sensor; which has been conceptualised, developed, manufactured and serviced entirely in India.

The Minister informed that at present, it is heavily dependent on importing sensors, as all core sensor elements are imported from China, USA, UK, Japan and Germany.

The major quality of these sensors is that they do not face any cross interference from other combustible or reducing gases; can function in air as well as inert/ vacuum background and can perform analysis from 1ppm to 100 per cent pure Hydrogen.

With this technology, India can easily penetrate the global market to complement domestic demand through their Made in India products, said the minister.

The sensor has several unique and path breaking features such as Minimum detection: Parts Per Million (PPM) range; Maximum detection: 100% Pure Hydrogen; Instant response within 3 seconds; low power consumption for core sensor operation.

Portable detectors can operate continuously upto 36 hours on single charge; non-corrosive; long life of 5 years etc.

He said, ‘Hydrogen’ envisages being the future fuel to replace fossil fuel and therefore production of Hydrogen fuel by using power from renewable energy, termed as green hydrogen is one of the major requirements towards environmentally sustainable energy security of the nation.