CostPlus, Indian firms to introduce advanced hydrogen fuel cell technology in the Philippines
August 24, 2025
CostPlus Inc., a leading Filipino technology company, is looking at introducing advanced hydrogen fuel cell technology into the Philippine market after signing a letter of intent with Indian investors, the company said on Monday.
The letter of intent was signed during President Ferdinand Marcos Jr.’s state visit to India.
CostPlus chief executive Anand Mahtani joined Marcos and other business leaders at a CEO Roundtable on Aug. 6 in New Delhi, where he highlighted the company’s renewable energy vision and the importance of Philippines-India collaboration.
The company said the collaboration with Indian businessmen will provide the Philippines with state-of-the-art energy solutions to meet its growing demand for clean, renewable energy.
“This partnership marks an exciting opportunity to accelerate the Philippines’ transition to green energy while creating local jobs and contributing to a more sustainable future for our country,” Mahtani said in a statement.
As part of the agreement, CostPlus will also explore further investments in renewable energy infrastructure and technology development.
The company is also constructing LED carbon batteries manufacturing facilities in the Philippines.
Mahtani said CostPlus aims to create meaningful opportunities between the Philippines and India via an open dialogue with Invest India.
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