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ARDANA HYDROGEN
The Hydrogen Pillar · An Ardana Capital Property

We don't burn waste.
We deconstruct it.

Patent-pending plasma gasification turns the planet's most problematic waste streams — municipal, plastics, tires, hazardous, biomedical, oil sludge — into 99.9% pure green hydrogen. Validated by BARC, IIT Roorkee, and CSIR-CMERI. 80+ R&D installations. Zero dioxins. Zero furans.

989T
H₂ / yr · 10 TPD plant
99.9%
Hydrogen Purity
<1yr
EBITDA Payback
0
Dioxins / Furans
Chapter 01The Problem · A Double-Whammy

The world has two problems.

The twin crisis: surging clean-energy demand and a mounting global waste burden

Problem A · Energy Gap

Everyone is building data centres for AI.
No one is generating enough green electricity to power them.

Frontier AI workloads, hyperscale cloud expansion, and grid electrification of transport are all pulling in the same direction: enormous, sustained demand for clean, dispatchable power. Existing wind and solar pipelines won't close the gap fast enough.

  • Hyperscale demand growing 2–3x faster than green build-out
  • Grid interconnection queues 4–7 years in major markets
  • Hydrogen as carrier — storage, transport, peaking — under-built

Problem B · Waste Crisis

2+ billion metric tons of MSW
generated annually.

Toxic leachates, methane plumes from open dumps, dioxin-and-furan emissions from incineration. The cost of producing waste is rising every year; the cost of disposing of it, faster. Regulators are tightening — bulk generators in India, the GCC, and the EU are running out of compliant options.

  • Methane from landfills — 20% of human-caused emissions, near-term warming worse than CO₂
  • Incineration creates dioxins / furans — Stockholm Convention POPs
  • Mixed-stream MSW resists recycling; <30% diversion globally

Two problems. One technology that solves both.

Chapter 02The Solution

We have a patent-pending solution.

Validated by
BARCBhabha Atomic Research Centre
IIT RoorkeeIndian Institute of Technology
CSIR-CMERICentral Mechanical Engineering Research Inst.
Plasma gasification reactor core
Modular containerised plant architecture
/ 01

Thermal-Catalytic Ionization Process

Plasma gasification optimised for high-moisture mixed MSW. Moisture is a thermodynamic asset, not a liability — we don't pre-dry.

Core Process · Patent Pending

/ 02

Syngas Purification System

Proprietary downstream processing — multi-stage scrubbing, PSA with CMS adsorbent — drives output to 99.9% H₂ purity, fuel-cell ready.

Output · 99.9% H₂ Purity

/ 03

Modular Plant Architecture

Containerised, factory-built modules. Site readiness to first-fire in months, not years. Scales from 5 TPD pilot to 100 TPD anchor with the same chassis.

Deployment · 5–100 TPD Modular

3
Research Institution Partners
1
Patent Application Filed
5+
Peer-Reviewed Validations
2026
Commercial Scale Target
Chapter 03Validation

Market proven. Don't take our word for it.

80+
R&D Installations
5+ yr
Trial Data
0
Safety Incidents
100%
Regulatory Compliance

Deployed Across

Heavy Industry

National Defense Research

Municipal Waste Management

Petrochemical

Oil Sludge

Deployed With Industry & Research Partners

Partner deployment 1
Partner deployment 2
Partner deployment 3
Partner deployment 4
Partner deployment 5
Partner deployment 6
Partner deployment 7
Chapter 04How It Works

We don't burn waste. We deconstruct it.

Six steps. Mixed unsorted waste in. Fuel-cell-ready hydrogen out. Inert vitrified slag — usable in construction — as the only solid byproduct.

Six-stage plasma gasification process — from mixed waste input to fuel-cell-ready hydrogen
  1. 01Input

    Waste Input

    10 TPD mixed waste, no segregation required. Magnetic metal removal is the only pre-processing.

  2. 023,000–10,000°C

    Plasma Arc Generation

    Ultra-high-temperature plasma arc — complete molecular bond breaking. No open flame means no combustion byproducts.

  3. 03Output

    Thermal Decomposition

    Output: syngas (H₂ 48%, CO₂ 32%, CO 16%, other 4%) plus inert vitrified slag — usable in construction.

  4. 04140°C → 35°C

    Syngas Cleanup

    Multi-stage scrubbing drops temperature from 140°C to 35°C. Moisture content brought to under 1 ppm before purification.

  5. 0512 bar(g) · 8–10 min cycle

    PSA Purification

    5-vessel Pressure Swing Adsorption with CMS adsorbent. Drives H₂ to 99.9% purity, fuel-cell ready.

  6. 06250 bar(g) · 500 m³/hr

    H₂ Dispensing

    Multi-stage compression to 250 bar(g) for industrial offtake or onsite refuelling. 500 m³/hr peak dispense.

Syngas Composition (Post-Decomposition)

48%
H₂
32%
CO₂
16%
CO
4%
Other
Chapter 05Trial Results

Proven efficacy across diverse waste streams.

Performance metrics per ton of waste processed
Waste TypePower In (kW/hr)Power Out (kW/hr)Net Power (kW/hr)Syngas (m³/hr)Slag (kg/hr)MW / ton
MSW · 20% moisture356631~65~130~0.7
Plastics3012090~118~60~2.1
Hazardous Waste*10552−53*~51~100~1.0
Tires209878~97~120~1.8
Oil Sludge3212593~126~63~2.2
Biomedical208064~87~80~1.6

* Hazardous Waste net power is negative because of the high energy input required for full molecular decomposition. This is expected and acceptable — the value of the process for hazardous streams is in safe destruction and material recovery, not power generation.

Chapter 06Technology Advantage

A clear technological advantage.

Ardana Plasma Gasification ✓ vs Incineration ✗
CriteriaArdana PAGS ✓Incineration ✗
Core PrincipleUltra-high-temp decomposition (starved combustion)Direct burning of waste
EmissionsSignificantly lower toxins — no open flameHigher risk of dioxins and furans
ResidueInert, minimal-volume vitrified slag — reusableHigher volume of potentially toxic ash
Energy RecoveryHigh-value, flexible syngas → H₂Mostly low-value heat / steam
Waste FlexibilityMinimal pre-sorting — magnetic metal removal onlyExtensive pre-sorting required
Moisture HandlingThermodynamic asset — not a liabilityRequires pre-drying — high OPEX
Emission benchmarks vs USEPA standards (lower = better)
ParameterPAGS (Ardana)IncinerationEPA Standard
NOx (ppmvd)35–40150250
PM (mg/dscm)<520–2434
SO₂ (ppmvd)<23055
Mercury (µg/dscm)<250–8055
Dioxins / Furans0 ng/dscm13–3025

PAGS results derived from BARC / IIT Roorkee / CSIR-CMERI trial data across 80+ R&D installations and 5+ years of operating history. EPA Standard values per US 40 CFR §60 Subpart Eb.

Chapter 07Unit Economics

10 TPD waste-to-hydrogen facility. One unit of the global scale-out.

Unit economics of a 10 TPD waste-to-hydrogen facility
$3.30M
Yr 1 H₂ Revenue (USD)
87%
EBITDA Margin Yr 2+
5.74x
DSCR Year 1
<1yr
Simple Payback
Full unit economics · 10 TPD plant · INR/USD ~84 @ April 2026
MetricValue
Plant Capacity10 TPD MSW
H₂ Production989 T / year
H₂ Selling Price₹2,80,000 / T (~$3,340 USD/T)
Annual H₂ Revenue₹2,769.20 Lakhs · ~$3.30M USD
Carbon Credit Price$50 USD / T CO₂e · ₹157.50 Lakhs/yr
Total Revenue · Year 1₹2,941.70 Lakhs · ~$3.50M USD
Total Annual OPEX₹383.66 Lakhs · ~$457K USD
EBITDA · Year 1₹2,558.04 Lakhs · ~$3.05M USD
EBITDA Margin · Year 2+87.0%
Total Equipment CAPEX₹2,420 Lakhs · ~$2.88M USD
Net Project Cost (post-loan)₹1,573 Lakhs
Monthly EMI₹37.143 Lakhs
DSCR · Year 15.74x
Average DSCR Y1–55.74x
Loan Closes60th EMI
Simple Payback<1 Year (EBITDA basis)
15-Yr Cumulative Revenue₹44,167.50 Lakhs
15-Yr Cumulative PAT₹30,562.71 Lakhs · ~$36.4M USD

No government subsidy assumed in this model. Carbon credit revenue at $50/T CO₂e listed price (Verra / Gold Standard pending). Conservative estimate — actual realised pricing in EU CBAM-linked offtake contracts trending higher.

Chapter 08Scaling Impact

The path to a multi-billion-dollar green hydrogen enterprise.

Global green-hydrogen market trajectory
Addressable waste-feedstock and offtake landscape

India

35

Plant deployments

MSW · captive municipal partnerships

SWM Rules 2026 mandates create immediate offtake demand.

GCC

20

Plant deployments

Oil sludge · refinery-adjacent siting

UAE / KSA / Oman net-zero targets + sovereign carbon mandates.

$550M
Portfolio CAPEX (70/30 D:E)
$498M
Stabilised Annual Revenue
$237M
Stabilised Annual EBITDA
$47.8M
Annual Carbon Credit Revenue

10-Year Cumulative Revenue

$3.70B

Across 55 plants at full deployment

10-Year Cumulative Net Profit

$1.04B

After debt service + tax · run-rate basis

Projected Enterprise Value

$2.4 – 3.5B

10x–15x stabilised EBITDA · green infra multiples

Target Annual ROI · ~25.3% · Expanding Post-Debt Amortisation

Chapter 09Regulatory Tailwinds

Regulation is not a tax. It is the moat.

The same rules that make legacy waste-handling more expensive make Ardana's compliant alternative the only viable path forward. Two jurisdictions are leading the way.

India

SWM Rules 2026 create a captive market on April 1, 2026.

  • Apr 1 '26
    Strict bans on landfilling unsegregated MSW; bulk waste generators face mandatory diversion targets.
  • EBWGR
    Extended-Bulk-Waste-Generator Regulations require certified treatment partnerships — Ardana plants qualify as primary destination.
  • Captive
    Municipalities + state pollution boards become structural offtake partners. No customer acquisition cost.

GCC

Sovereign net-zero pledges turn diversion into a fiscal priority.

  • UAE
    75% waste-diversion target by 2030. Federal-level circular-economy investment alongside sovereign wealth allocations.
  • KSA
    3 GW of waste-to-energy capacity targeted under Vision 2030. PIF + NEOM as cornerstone investors.
  • Net Zero 2050
    Region-wide pledges combined with carbon-credit pricing tailwinds → green hydrogen offtake economics that work without subsidy.

Partner With Ardana Hydrogen

Turn the world's waste into green hydrogen.

Whether you're a municipality facing a waste mandate, an industrial hydrogen offtaker, or an investor seeking green-infra returns — there is a place for you in the 55-plant build-out.