India Rolls Out First Commercial Multi-Chip Module to US Firm AOS

India's Kaynes Semicon has shipped its first commercially packaged multi-chip module (MCM) to US firm Alpha & Omega Semiconductor (AOS). The module, called an intelligent power module (IPM), integrates power switching elements with their corresponding drive and protection circuits into a single, compact package. The IPM is used in high-power and critical applications such as electric vehicles and renewable energy. Kaynes Semicon has a capacity to produce 3,000 pieces per day and plans to send another shipment next month.

The hydrogen energy storage market is projected to experience significant growth, with revenue expected to reach USD 196.8 billion by 2028, according to a MarketsandMarkets report. This growth is driven by the global clean energy transition, increasing adoption of fuel cell vehicles, and the integration of renewable energy sources into mainstream systems. The market size is projected to grow from USD 11.4 billion in 2023 to USD 196.8 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 76.8%, the report projects.

Key factors contributing to this growth include the emphasis on environmental sustainability, the rising adoption of fuel cell vehicles, and the need to address energy intermittency and grid stability. Governments and corporations worldwide are investing heavily in hydrogen ecosystems, incentivizing zero-emission technologies, hydrogen hubs, and long-duration storage. Unlike batteries, hydrogen storage can hold energy for days or weeks, making it indispensable for renewable balancing and off-grid resilience, the report notes.

The electric utilities segment is expected to hold the largest market share during the forecast period, driven by the need for grid stability and renewable integration. Gas storage form is projected to dominate due to its high efficiency, easy transportability, and established infrastructure. Compression technology is anticipated to grow fastest due to its low energy loss and high density per unit volume, making it cost-effective and compatible with existing hydrogen pipelines, the report says.

The Asia Pacific region is expected to be the second-largest market, following North America, driven by increasing energy demand, rapid urbanization, and a pressing need to reduce greenhouse gas emissions. Countries like Japan and South Korea are leading investments in hydrogen infrastructure and innovation, the report observes.

The report also highlights key players transforming the hydrogen landscape, including Linde plc, Plug Power Inc., ENGIE, Iwatani Corporation, and FuelCell Energy, Inc. These companies are driving growth through investments, expansions, partnerships, and mergers and acquisitions.