Thermax Limited—an energy and environment solutions company supporting India’s transition to cleaner energy—and Hindustan Petroleum Corporation Limited (HPCL), a Maharatna PSU and one of the country’s largest integrated refining and marketing firms, have signed a Memorandum of Understanding (MoU) to form a strategic partnership. The collaboration will focus on sharing technical and scientific knowledge, undertaking joint research, and enabling pilot projects as well as large-scale rollout in key areas such as HP AEM electrolyser technology, carbon dioxide capture solutions, bio-pyrolysis oil processing, and other upcoming clean-energy technologies.
This initiative is expected to speed up the adoption of indigenous sustainable energy solutions, strengthening the Make in India mission while contributing to India’s energy transition and climate targets. Ashish Bhandari, MD & CEO, Thermax Limited, said “India’s move towards cleaner energy will depend on meaningful partnerships. The Thermax–HPCL collaboration is built on that foundation. By bringing together Thermax’s technology capabilities and HPCL’s R&D strength, operational expertise and scale, this partnership will push forward solutions in green hydrogen, carbon capture and bio-based fuels—helping translate innovation into real-world deployment.”
HPCL operates two key refineries located on India’s east and west coasts and also has equity participation in the HMEL and MRPL joint venture refineries. In addition, the company is setting up a greenfield joint venture refinery in Rajasthan, which is currently under construction.
With a strong presence in fuel marketing and distribution, HPCL manages an extensive network of 24,572 retail outlets along with 6,389 LPG distributorships across the country, ensuring wide customer reach and reliable supply coverage.
The company’s infrastructure strength includes 80 POL depots and terminals, two LPG import facilities at Visakhapatnam and Mangalore, 55 LPG bottling plants, 59 aviation fuel stations, and a pipeline network spanning 5,440 km. Along with its subsidiaries and joint ventures, HPCL has also developed a 5 MMTPA LNG storage and regasification terminal at Chhara in Gujarat and received authorization to build CGD networks in 25 geographical areas to meet India’s growing energy requirements.
Thermax Limited (NSE: THERMAX) is a prominent force in the energy and environment domain and a key partner in the global energy-transition landscape. Its broad portfolio spans clean air, clean energy, clean water, and industrial chemical solutions. With strong domain knowledge, engineering excellence, and digital integration, Thermax offers end-to-end support from audits and consulting to execution and maintenance. The group operates 16 manufacturing plants across India, Europe, and Southeast Asia and has a network of more than 45 subsidiaries worldwide.
