BHEL Signs Pact with Horizon Tech to Build Hydrogen Fuel Cell Trains

Bharat Heavy Electricals Ltd (BHEL) has signed a 10-year exclusive memorandum of understanding (MoU) with Horizon Fuel Cell Technologies Pte Ltd, Singapore. As per the news reports, the collaboration will focus on designing and developing hydrogen fuel cell-based trains for the Indian railway network.

Technology Outline

Hydrogen fuel cell rolling stock generates electricity on board by converting hydrogen into power. The process releases only water vapour and heat, making it a zero-emission alternative to diesel-powered locomotives. This system is being developed as part of the push to explore clean energy solutions in transport.

Horizon’s Background

Horizon Fuel Cell Technologies, founded in 2003, produces hydrogen fuel cells used in transport, stationary power, and other applications. The company has supplied fuel cell solutions for heavy-duty vehicles and industrial sectors worldwide.

BHEL’s Railway Projects

BHEL has been increasing its involvement in the railway sector through propulsion systems, electric locomotives, and signalling equipment. The company has also partnered with original equipment manufacturers (OEMs) for advanced projects such as high-horsepower engines, battery-powered locomotives, and high-speed trainsets. 

Indian Railways Context

The modernisation of Indian Railways is creating demand for new locomotive technologies. Fuel cell trains are expected to play a role in long-distance and heavy-duty segments as the network explores alternatives to conventional diesel and electricity-based operations.

BHEL’s Q1FY26 Earnings Results

For the first quarter of FY26 ending June 30, 2025, BHEL reported a consolidated net loss of ₹445.50 crore. This compares with a loss of ₹211.40 crore in the same period a year earlier. Revenue from operations stood at ₹5,486.91 crore, showing a marginal rise of 0.03% year-on-year.

Read more: BHEL Inks Tech Transfer Agreement With DRDO For Radar Dome Manufacturing!

BHEL Share Price Performance 

As of 10:46 AM on September 08, 2025, BHEL share price was trading at ₹215.90, a 1.67% increase from the previous closing price.

Conclusion

The MoU with Horizon Fuel Cell Technologies will allow BHEL to work on hydrogen-powered trains as part of its railway projects and clean energy initiatives.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.