@ ankit – Thanks. Sharing this – this question was pised to management in 2 different interviews. Their response has been – space is too large and so there is room. Secondly, focus on technology and rest would fall in place – links below for details.
https://www.youtube.com/embed/Mp5qtvM6dCs
As I understand (still learning – anyone who understands the field better, please share), technology they have built for Bloom is in partnership over a period of 3.5 years. From the DHRPs, different competitors of Bloom use different fuel cell technology. Biggest challenge for adoption of green hydrogen has been cost. In response to this, government introduced PLI scheme for electrolyzers which is a key component. Other is to reduce import dependency. Reliance has also tied up with a foreign co. For know how. In lieu of this, question is – is the technology that MTAR built for Bloom scalable/adaptable for others like Fluence? If not, this would need couple of years investment like Bloom. On the other side, it makes a sticky case for Bloom though contracts are ST. But then, future growth would depend on how cost effective Blooms technology is given that 50% of cos revenue comes from Bloom. I also heard that they onboarded a marketing company to help procure global clients – will have to see how its showing up in order book
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