Hygenco Green Energies, based in Gurgaon, Haryana, India, and specializing in the development and operation of green hydrogen and green ammonia production facilities, is poised to secure capital by selling a 49% stake to a consortium of high-profile international investors.
The round is set to onboard Germany’s Siemens AG, Singapore-based Fullerton Fund Management, and the International Finance Corporation (IFC), reflecting strong global confidence in India’s growing green energy sector.
This funding round aims to raise approximately $125 million, which will place Hygenco’s valuation at $250 million. The IFC is slated to contribute about $50 million in equity, with Siemens AG and Fullerton Fund Management jointly accounting for the remaining $75 million.
Hygenco employs a “gas-as-a-service” model, delivering sustainable industrial gases to crucial sectors such as steel and fertilizers. The infusion of capital is a critical accelerator for the company’s ambitious expansion plans. Over the next three years, Hygenco intends to deploy roughly $2.5 billion to construct new green hydrogen facilities across India. This deployment is a major step toward achieving the company’s goal of establishing 10 GW of production and distribution capacity by 2030.
The investment aligns perfectly with India’s national goals, specifically the target of scaling up green hydrogen production to 5 million metric tons by 2030. Furthermore, the national initiative includes building a robust export ecosystem, positioning India as a key supplier of green hydrogen and green ammonia to international markets such as Japan, South Korea, and parts of Europe.
For the international investors, this deal provides an attractive opportunity to deepen their footprint in India’s renewable energy market, which is projected to grow at a compound annual rate of 8.6% and reach $47.22 billion by 2032. This participation underscores the rapidly accelerating commercial viability and importance of green energy projects within the region.
Last updated: December 26th, 2025
