Felix Industries Limited has entered into Memorandum of Understanding with M/s. Greenzo Energy India Limited on February 22, 2024. Details about the Entity with whom MOU is executed: Greenzo Energy India Limited a Company incorporated under the Companies Act, 2013 on 22/11/2022, having registered office at 104/19 Surya Kiran Building, New Delhi, Delhi India, 110001. Size of the entity(ies): Greenzo Energy India Limited Successfully Tests and Launches 1 MW Prototype, Attracts Requisitions for Electrolyzers.

The system is designed for hazardous locations, featuring explosion-proof instruments and alarming/interlocking points for pressure, temperature, and level control. Greenzo Energy India Limited offers a comprehensive scope of engineering, manufacturing, supply, and supervision services, ensuring the successful deployment of green hydrogen projects. The key components of the Hydrogen Generation System includes the Electrolyser Unit (Cell), featuring a bipolar sealed compact design and operating on a self-circulating principle for efficient hydrogen generation at a capacity of 200 Nm3/hr.

Greenzo has secured a noteworthy 5MW Electrolyser order integrated with solar projects from a public limited company specializing in environmental control solutions and green field initiatives. With construction in full swing, production is set to commence by November 2024. This successful prototype launch positions Greenzo Energy India Limited as a key player in the sustainable energy sector, contributing to India's green hydrogen initiatives and addressing the growing demand for clean and renewable energy solutions.

Area of agreement: Memorandum of Understanding to collaborate on technology development and implementation for green hydrogen and solar projects. Scope of business operation of Agreement: The purpose of this collaboration is to leverage each other's expertise and resources to advance the research, development, and deployment of technologies related to green hydrogen production and solar energy generation. Greenzo Energy India Limited will provide expertise in hydrogen production technologies and innovative solutions for efficient solar energy utilization.

Additionally, Felix Industries Limited intends to establish facilities near steel plants or existing clients to offer power, hydrogen and water solutions through a modular system. Greenzo Energy India Limited will serve as a consultant and contractor for development of these projects, providing guidance and expertise in implementation of sustainable energy solutions. Significant terms and conditions of agreement in brief: Felix Industries Limited and Greenzo Energy India Limited will have transparent policies between both companies.

The initial phase of the Memorandum of Understanding (MoU) will focus on a 5 MW target. The project will require an investment of 100-150 crores. Felix Industries Limited and Greenzo Energy India Limited will derive immense value from integrating environmental conservation and renewable energies, driven by a staunch commitment to a clean and green environment for sustainable practices.

Felix and Greenzo exclusively employ an open and transparent approach in adopting state-of-the-art technologies and implementing sustainable projects that seamlessly merge environmental conservation with renewable energy initiatives. Either party may terminate this agreement with a written notice of thirty (30) days in advance Termination of the agreement does not absolve either party of fulfilling any obligation accrued prior to the termination date.