Hygenco Secures $105 Million in Strategic Fundraising
Hygenco Green Energies Private Limited has successfully raised $105 million in a significant fundraising effort spearheaded by International Finance Corporation (IFC), Siemens Financial Services, and Fullerton Asset Management. This financial milestone marks a substantial advancement for Hygenco’s mission to innovate and expand its green hydrogen and green ammonia production capabilities.
Legal Advisory by Cyril Amarchand Mangaldas
Leading the legal advisory for Hygenco and its promoters was the esteemed law firm Cyril Amarchand Mangaldas. The transaction was expertly managed by partners Amarta Roy and Ishita Khandelwal, who were supported by a proficient team including Shreya Teewari (Principal Associate), Parnika Malhotra (Consultant), Bharti Singh (Senior Associate), and Aeruva Akash (Associate).
TT&A’s Role in Advising Investors
TT&A provided legal guidance to IFC and Fullerton regarding their investments in Hygenco. The team, consisting of partners Gautam Saha, Amrita Patnaik, and Pooja Menon, along with Senior Associate Shamik Gupta, ensured a seamless advisory process. Due diligence was meticulously conducted by Akshay Malhotra (Partner), Kush Saggi (Managing Associate), and Eshani Agarwal (Associate).
Khaitan & Co’s Advisory for Siemens
Siemens’ investment in Hygenco was advised by Khaitan & Co, further solidifying the collaborative efforts in advancing India’s green energy sector.
Impact on Green Hydrogen Mission
Hygenco’s focus on developing large-scale, commercially viable green energy production systems aligns with the objectives of the National Green Hydrogen Mission. By aiming to achieve a 10 GW production capacity, Hygenco is set to enhance the availability of high-quality green energy solutions for industrial applications across India. This transaction is a pivotal step in bolstering the burgeoning Indian green hydrogen market, ensuring the supply of competitive and sustainable energy to industrial clients nationwide.
