New Delhi — June 5, 2026 — The International Finance Corporation (IFC), Siemens Financial Services, and the Fullerton Carbon Action Fund have co-led a US$105 million equity investment in Hygenco Green Energies Private Limited, India’s leading green hydrogen solutions platform. The move marks a major milestone in scaling green hydrogen production and supporting India’s National Green Hydrogen Mission.
Hygenco has already proven its ability to design, build, and operate commercial green hydrogen plants, backed by an earlier US$25 million investment from SBI Ventures’ Neev II Fund in 2022. This new infusion will accelerate multiple projects nationwide, delivering zero-emission green molecules to hard-to-abate industrial sectors and creating more than 1,000 direct jobs over five years.
The consortium brings together IFC’s development financing, Fullerton’s private institutional capital, and Siemens’ industrial expertise. IFC and Siemens are each investing US$25 million, Fullerton up to US$30 million, complemented by blended finance facilities: US$20 million from the Clean Technology Fund and US$5 million from the Frontier Opportunities Fund.
Hygenco Co-Founder and CEO Amit Bansal said: “This US$105 million equity investment showcases the deep confidence of marquee institutional investors in our green hydrogen innovation and execution capabilities.” Co-Founder Anshul Gupta added: “Green hydrogen represents the most tangible pathway toward decarbonizing hard-to-abate sectors.”
IFC’s Regional Director for South Asia Imad N Fakhoury emphasized the broader impact: “This partnership aims to scale a commercially viable model, pioneer Hydrogen-as-a-Service, and expand affordable and reliable green hydrogen solutions, while signaling confidence in the sector’s long-term growth potential.”
Fullerton’s Akhil Jain highlighted Hygenco’s role in Asia’s low-carbon transition, while Siemens’ Steffen Grosse underscored the importance of financing next-generation sustainable infrastructure.
Hygenco currently operates two commercial green hydrogen plants in India and is set to launch construction of three to four more in FY 26–27. The company is also a recipient of the Production Linked Incentive (PLI) under India’s SIGHT program, reinforcing its leadership in the country’s clean energy transition.
