OSLO, 19 May 2026 — Advait Energy Transitions Limited (NSE: ADVAITENERGY | BSE: 543230), an Ahmedabad-headquartered energy infrastructure company listed on India’s national exchanges, has signed a Memorandum of Understanding with TECO Fuel Cell Technology AS of Norway at the 3rd India–Nordic Summit in Oslo.
The agreement was signed by Shalin Sheth, Founder and Managing Director of Advait Energy Transitions Limited, and Tore Enger, Executive Chairman of TECO Maritime Group and Chief Executive Officer of TECO Fuel Cell Technology AS. The signing was witnessed by the Prime Minister of India, Shri Narendra Modi, and the Prime Minister of Norway, Jonas Gahr Støre, on the sidelines of the Summit. PM Shri Narendra Modi’s visit to Norway forms part of his five-nation diplomatic tour covering the United Arab Emirates, the Netherlands, Sweden, Norway, and Italy from May 15 to 20, 2026 — his first visit to Norway and the first Prime Ministerial visit from India to the country in 43 years. Dailyhunt
The MoU establishes a framework for hydrogen fuel cell manufacturing in India. Under the collaboration, TECO Fuel Cell Technology AS and co-development partner AVL List GmbH of Austria will bring their jointly developed 400 kW hydrogen fuel cell module, along with a 100 kW hydrogen fuel cell stack, to India for local manufacture, adaptation, and deployment. The technology is modular and scalable into multi-megawatt configurations.
The collaboration targets three application sectors:
- Stationary power, including data centre systems — production targeted from Q1 2027
- Heavy-duty transport and mobility — production targeted from Q1 2028
- Maritime and shipping — advancing in parallel with mobility through 2028
The manufacturing programme is projected to generate at least 200 direct and indirect skilled jobs by 2032 across engineering, production, systems integration, and project execution. The collaboration encompasses knowledge transfer, joint engineering, testing and validation, and long-term technical cooperation with AVL List GmbH.
The agreement aligns with the Government of India’s Atmanirbhar Bharat initiative and the National Green Hydrogen Mission, which targets 5 million metric tonnes of annual green hydrogen production by 2030. The collaboration is structured around full knowledge transfer and joint engineering, with the objective of building domestic manufacturing capability in hydrogen fuel cell technology on Indian soil.
On the occasion, Shalin Sheth, Founder and Managing Director of Advait Energy Transitions Limited, said: “We, at Advait, have always believed that India’s long-term strength will come not only from consumption, but from its ability to build, engineer, and scale advanced technologies domestically. India now has the industrial capability, engineering talent, and policy momentum to become an active contributor to the global clean-energy ecosystem. This collaboration reflects the growing confidence of Indian companies to participate in global technology partnerships, localise advanced manufacturing, and contribute meaningfully to the future of sustainable energy systems.”
ABOUT ADVAIT ENERGY TRANSITIONS LIMITED Advait Energy Transitions Limited, established in 2009 and headquartered in Ahmedabad, Gujarat, is listed on the NSE and BSE. The company operates across power transmission, substation infrastructure, green hydrogen, fuel cell systems, battery energy storage, solar energy, and sustainability services. Advait has completed over 450 projects across more than 45 countries. www.advaitgroup.co.in
ABOUT ADVAITECO TECHNOLOGIES PRIVATE LIMITED Advaiteco Technologies Private Limited is a wholly owned subsidiary of Advait Greenergy Private Limited, incorporated in May 2026 and headquartered in Ahmedabad. The company is focused on the manufacturing and integrated supply of hydrogen fuel cells for stationary, mobility, and shipping applications across India and SAARC nations.
ABOUT TECO FUEL CELL TECHNOLOGY AS TECO Fuel Cell Technology AS is a Norwegian hydrogen fuel cell technology company operating within TECO Maritime Group, focused on the development and commercialisation of fuel cell systems for stationary, mobility, and maritime applications. Its flagship 400 kW fuel cell module has been co-developed with AVL List GmbH of Austria.
