Advait Energy Transitions Limited has signed a Memorandum of Understanding (MoU) with TECO Fuel Cell Technology AS, Norway, marking a significant step in the company's hydrogen energy strategy. The agreement was executed on May 18, 2026, on the sidelines of the 3rd India-Nordic Summit held in Oslo, Norway. The partnership aims to enable local production of hydrogen fuel cells across power, transport, and maritime sectors.

High-Profile Signing Ceremony

The MoU was signed by Mr. Shalin Sheth, Promoter and Managing Director of Advait Energy Transitions, and Mr. Tore Enger, Executive Chairman of TECO Maritime Group and Chief Executive Officer of TECO Fuel Cell Technology AS. The signing ceremony was witnessed by the Prime Minister of India, Shri Narendra Modi, and the Prime Minister of Norway, Mr. Jonas Gahr Støre, underscoring the diplomatic significance of the collaboration.

Strategic Alignment with National Missions

The MoU is designed to align with the Government of India's Atmanirbhar Bharat initiative and the National Green Hydrogen Mission. The collaboration is focused on enabling domestic manufacturing capability through knowledge transfer and joint engineering in hydrogen fuel cell technology, positioning Advait Energy Transitions as a participant in India's green hydrogen ecosystem.

Target Sectors and Production Timelines

The partnership covers three key application areas, each with distinct development and production timelines. The following table outlines the sectors and their respective targeted production schedules:

Regulatory Disclosure

The company disclosed the MoU to stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Advait Energy Transitions noted that, as the current agreement is an MoU, specific disclosures as per SEBI Circular No. HO/49/14/14(7)2025-CFDP0D2/I/3762/2026 dated January 30, 2026, will be filed once a specific agreement with the respective party is executed with full details, as required. The disclosure was signed by Deepa Fernandes, Company Secretary and Compliance Officer.

Advait Energy Transitions Limited has announced the incorporation of three new subsidiaries to strengthen its renewable energy portfolio and expand its business operations across multiple segments of the clean energy sector. The company disclosed this development under Regulation 30 on April 28, 2026.

Three Strategic Subsidiaries Incorporated

The company has established three specialized subsidiaries, each targeting distinct segments of the renewable energy and sustainability market:

Financial Structure and Shareholding

All three subsidiaries share identical financial structures with uniform capital arrangements:

Business Focus Areas

Advait Battery Ecosystems Private Limited

This subsidiary will focus on developing, manufacturing and providing energy storage systems, EV batteries and integrated power solutions. The company's main objectives include:

• Designing and manufacturing Battery Energy Storage Systems (BESS) for utility-scale, commercial, industrial, and residential applications
• Manufacturing and distributing Electric Vehicle (EV) batteries and specialized battery packs
• Establishing battery recycling and refurbishment facilities
• Acting as an Independent Power Producer (IPP) for BESS assets

Advait Carbon Advisory & Renewables Assets Private Limited

Specializing in carbon advisory and sustainability services, this entity will provide:

• Carbon advisory, ESG consulting, and sustainability reporting services
• Carbon credit trading and climate strategy advisory
• Carbon footprint assessment and validation support
• Development and management of renewable energy projects and environmental attributes

Advait Unified Renewable Assets Private Limited

Focused on power generation and infrastructure, this subsidiary will engage in:

• Independent Power Plant operations and electricity generation
• Transmission, distribution and trading of electricity
• Construction of utility projects including power plants and transmission lines
• Manufacturing of electric motors, generators, and transformers

Registered Office and Compliance

All three subsidiaries are incorporated under the Companies Act, 2013 and share the same registered office address at A-801 to 803, Sankalp, Iconic, Opp. Vikram Nagar, Bodakdev, Ahmadabad City, Ahmedabad- 380054, Gujarat. The incorporations constitute related party transactions as all entities are subsidiaries of Advait Energy Transitions Limited. No governmental or regulatory approvals are required for these acquisitions, and the business activities of all subsidiaries align with the parent company's main line of renewable energy business.