ABC Cleantech, a subsidiary of Hyderabad-based renewables developer Axis Energy Group has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to invest approximately $6 billion in the state for establishing a 5 GW green hydrogen and ammonia facility. This plant will help in producing 0.2 million tonnes of green hydrogen and 1 million tonnes of green ammonia on an annual basis. The company anticipates that the manufacturing unit will employ approximately 5,000 people over the next decade for this project.
Recently in October 2022, Metastable Materials, based in Bengaluru announced the launch of its battery recycling facility in Karnataka. The facility is capable of processing 1,500 tonnes of dead batteries annually. The facility is located on the outskirts of Bengaluru and incorporates a chemical-free integrated carbothermal reduction process to extract valuable materials from dead lithium-ion batteries.
