Ohmium International to invest Rs 400 cr in TN

Chennai: Tamil Nadu has secured a Rs 400 crore investments from US-based Ohmium International, Inc., to set up a manufacturing facility in the State, Chief Minister M K Stalin said on Sunday. Stalin accompanied by Minister for Industries TRB Rajaa and senior government officials were present at the signing of Memorandum of Understanding between Ohmium and the State government for the upcoming project in neighbouring Chengalpattu district. “Another successful day in San Francisco. We have secured a Rs 400 crore investment from Ohmium in Chengalpattu district, creating 500 jobs,” Stalin said. The chief minister is currently on a visit to the United States seeking investments to Tamil Nadu. “This (the signing of MoU with Ohmium International) marks a significant step in nurturing the ecosystem for green energy production and fuelling a sustainable future,” the chief minister wrote in a social media post. According to the website of Ohmium International, the company designs, manufactures modular, scalable Proton Exchange Membrane (PEM) electrolyzers that enable cost-competitive green hydrogen production. The company’s suite of electro-chemical products help customers achieve their sustainable energy goals across various industrial transportation and energy projects. Ohmium International has operations worldwide and has manufacturing facilities in India. In 2023, the company raised $250 million in Series C financing, led by TPG Rise Climate, the website said.