What Indefol Solar does

Indefol GmbH (operating as Indefol Solar) is a privately-held renewable energy company founded in 2008 that develops and deploys green hydrogen (GH2) technologies alongside solar and wind power generation, primarily serving energy-intensive industrial manufacturers in Southeast Asia with RE100 commitments. The company's core product portfolio centers on two proprietary alkaline electrolyzer systems — the IDF-EX1000X (1 MW, 200 Nm3/h, 99.99% hydrogen purity via two-stage Deoxygenation Tower + PSA filtration) and the IDF-EX40X (40 kW, 8 Nm3/h, 99.95% purity) — both featuring AI/SCADA monitoring integrated with Siemens HMI. Indefol also delivers end-to-end rooftop solar EPC services (134.5 MWp across 30+ projects at COD), a 190 MW wind project in Ben Tre, a 1 GW battery pipeline, and O&M services through its EPM division of ~50 engineers.

The business operates on a vertically integrated model combining project development, engineering procurement and management, equipment manufacturing, and recurring DPPA-based green hydrogen energy supply. Revenue streams include hardware sales of electrolyzer systems, EPC services for solar and wind projects, subscription-style green hydrogen DPPA pricing structured as discounts versus customer fuel costs, and professional decarbonization consulting. The company sells exclusively through direct B2B enterprise sales to corporate sustainability and procurement teams, with anchor customers in Vietnamese textile and footwear manufacturing (Pousung Group, Formosa Taffeta, Rang Dong Plastic, and 15+ other textile manufacturers) and partnerships with global RE100 brands (PUMA, adidas, Nike, On Running).

Indefol maintains operational headquarters in Ho Chi Minh City, Vietnam, legal incorporation in Berlin, Germany (Indefol GmbH), and wholly-owned or jointly-controlled subsidiaries in Australia, the US, and Europe (DFM-Europe), with additional offices in France, Indonesia, Taiwan, China, and India. Strategic technology partnerships with Siemens, TÜV SÜD, Fraunhofer Wind Institute, and DFM-Europe underpin product certification and European market entry. The company states a goal to achieve a 100% green-digital twin supply chain by 2030, and claims cumulative impact of 1,200,000+ tCO2 savings across its deployed portfolio.

Name

Indefol Solar

Legal name

Indefol GmbH

Website

https://indefol.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Indefol Solar develops and deploys green hydrogen electrolyzer systems (IDF-EX1000X at 1 MW and IDF-EX40X at 40 kW) alongside rooftop solar and wind EPC services for industrial manufacturers in Vietnam and Southeast Asia, with anchor customers in textile and footwear sectors serving global RE100 brands like PUMA, adidas, Nike, and On Running.

Ownership category

akta.pro rank

Product category

Green Hydrogen Electrolyzer Systems

NAICS

Solar Electric Power Generation (221114), Electrical Equipment Manufacturing (3353), Wind Electric Power Generation (221115), Electric Power Generation (22111)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

Keywords

• Green hydrogen electrolyzers
• Rooftop solar EPC
• Wind farm development
• Decarbonization services
• DPPA energy supply

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Green Hydrogen Electrolyzer Systems (Equipment Sales): Sale of proprietary electrolyzer systems (IDF-EX40X 40kW and IDF-EX1000X 1MW) to industrial customers. Systems are designed, assembled, and tested at Indefol's manufacturing facility and delivered for on-site installation in industrial zones, power grids, and large-scale transportation applications.
2. Rooftop Solar & Wind Energy Project Development: End-to-end development, engineering, procurement, and construction (EPC) of rooftop solar systems and wind farms for factories and industrial customers. The company has developed 134.5 MWp of solar projects COD and 1,600 GWh/year of committed DPPA off-take.
3. Decarbonization Package Services: Comprehensive decarbonization consulting and implementation services tailored to businesses, communities, and industries, including energy assessments, system design, construction, and ongoing operations and maintenance.
4. Green Hydrogen Energy Supply (DPPA): Supply of green hydrogen energy generated from solar power to industrial customers, with heat and steam co-production. Pricing is calculated based on discounts compared to existing fuel costs, with cost-benefit commitments.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Indefol Solar designs, manufactures, and deploys proprietary alkaline water electrolyzer systems (IDF-EX40X at 40 kW and IDF-EX1000X at 1 MW) that produce green hydrogen from solar power. The company also develops rooftop solar PV and wind energy projects under EPC and DPPA frameworks, and offers integrated decarbonization packages for industrial manufacturers and RE100 companies across Vietnam and other markets.

Product overview

Indefol Solar is a renewable energy company that develops and deploys Green Hydrogen (GH2) technologies alongside renewable energy solutions. The product portfolio centers on two main electrolyzer systems: the IDF-EX1000X (a 1 MW industrial-scale alkaline electrolyzer) and the IDF-EX40X (a 40 kW versatile electrolyzer for mobility, industrial processes, and power backup). These electrolyzer products form the core of Indefol's green hydrogen technology offerings. The company also provides rooftop solar solutions (with 70MWp+ deployed across 30+ projects), wind energy projects (including the 190 MW Ben Tre Wind Farm), fuel cell applications (trucks, aircraft, data centers), and Operations & Maintenance services. The EPM (Engineering Procurement & Management) division supports project development and implementation. The company aims to achieve 100% green-digital twin supply chain by 2030.

Differentiator

Problem solved

Functional benefit

Brands

• IDF-EX1000X: 1 MW alkaline electrolyzer system for industrial zones, power grids, and large-scale transportation. Produces 200 Nm3/h hydrogen at 99.99% purity with two-stage filtering (Deoxygenation Tower + PSA technology).
• IDF-EX40X
• EPM (Engineering Procurement & Management)
• JOHNLYZER

Products and services

• IDF-EX1000X Electrolyzer System A 1 MW alkaline electrolyzer system designed for industrial zones, power grids, and large-scale transportation. Produces 200 Nm3/h of hydrogen at 99.99% purity with two-stage filtration (Deoxygenation Tower + PSA technology). Features PLC-based temperature and pressure control, Siemens HMI, RS485 communication, and AI/SCADA monitoring capabilities.
• IDF-EX40X Electrolyzer System A 40 kW electrolyzer system for indoor service with versatile applications in mobility, industrial processes, and power backup. Produces 8 Nm3/h of hydrogen at 99.95% purity. Features factory-assembled power and cooling modules, effective thermal management, and remote monitoring capabilities for continuous availability and performance.
• Rooftop Solar Solutions Rooftop solar installation services for commercial and industrial facilities, including factories and sports complexes. Indefol has completed over 30 rooftop solar projects with total capacity exceeding 70 MWp throughout Vietnam, including the 37.6 MWp project for a Taiwanese footwear giant (Vietnam's largest and world's largest of its kind for footwear manufacturing) and the 4.5 MW Rang Dong Long An Plastic project.
• Ben Tre Wind Farm A 190 MW wind farm project located in Ba Tri, Ben Tre, Vietnam, under Indefol's renewable energy project portfolio.
• Operations & Maintenance (O&M) Services Comprehensive operations and maintenance services ensuring system efficiency and reliability for deployed solar, wind, and electrolyzer installations, including routine maintenance, troubleshooting, and safety/performance focus.
• Decarbonization Package Services Comprehensive decarbonization consulting and implementation services tailored to businesses, communities, and industries, including energy assessments, system design, construction, and ongoing operations and maintenance.
• Green Hydrogen Energy Supply (DPPA) Supply of green hydrogen energy generated from solar power to industrial customers, with heat and steam co-production. Pricing is calculated based on discounts compared to existing fuel costs, with cost-benefit commitments under Direct Power Purchase Agreement (DPPA) framework.

Quantifiable outcome

• 1,200,000+ tCO2 savings achieved through deployed solar and hydrogen projects
• +5 more outcomes

Named customers26 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Leading German Sports Brand (Sustainable Sourcing Team)coreStrategic or Co-development Partner · 20 February 2025Collaboration with the Sustainable Sourcing Team of a leading German sports brand for the 'Innovative DPPA Package Launch' at Indefol's R&D Center in Long An. The event showcased Indefol's 40kW GH2 system as a key driver for decarbonization, with the German brand's Tier 1 & Tier 2 industry pioneers in attendance. The partnership aims to deliver real, scalable solutions to meet sustainability commitments under RE100.
• SiemenscoreTechnology or IntegrationSiemens is collaborating with Indefol on the 1MWp GH2 system Commercial Operation Date (COD), integrating Siemens hardware and digitalization technologies with Indefol's electrolyzer systems for industrial applications.
• DFM-EuropecoreTechnology or IntegrationDFM-Europe, led by Dr. Manuel Pham, collaborates closely with Indefol to advise on and validate green hydrogen technologies and commercialize GH2 in Europe. DFM-Europe contributes expertise in hydrogen and oxygen systems, pressure vessel analysis, and compliance with RCCMx, EN-13445 standards and Eurocode.
• TÜV SÜDcoreTechnology or IntegrationTÜV SÜD is collaborating with Indefol on the 1MWp GH2 system COD. TÜV SÜD provides independent testing, inspection, and certification services to validate the safety and performance of the green hydrogen electrolyzer.
• Fraunhofer Wind Institute (Germany)coreStrategic or Co-development PartnerIndefol's CEO Hieu Tran is a PhD candidate at Fraunhofer Wind Institute, Germany & HCMC UT Vietnam. The company logo is shown on Indefol's website partner section, indicating an ongoing research and academic collaboration.
• Ho Chi Minh City University of Technology (HCMUT)minorStrategic or Co-development PartnerIndefol partnered with HCMUT for the Bach Khoa Innovation 2025 university-industry challenge. The collaboration connects student innovators with real industry exposure across 5 sustainability challenges including hydrogen purity measurement, AI-based hydrogen leak monitoring, and smart energy management. Indefol provides mentorship, site visits, and investment in winning solutions, with prizes up to 50 million VND.
• Rang Dong Long An Plastic JSCminorStrategic or Co-development PartnerIndefol Solar and Rang Dong Long An Plastic JSC signed a cooperation agreement in March 2019 for a 4.5MW rooftop solar project. The project was the first largest-capacity rooftop solar in plastic manufacturing factories in Vietnam, implemented according to GSES Australia design standards.
• Formosa Taffeta VietnamminorStrategic or Co-development PartnerIndefol Solar (with Tran family as affiliate) developed a Solar Rooftop Phase 1 project for Formosa Taffeta Vietnam, reducing ~25,000 tons of CO2 over 25 years. Project uses world-class German mounting structures, European inverters, and Japanese/US sensors.
• CQUniversity AustraliaminorOthersLogo shown as partner on Indefol website. CQUniversity Australia is an Australian university with energy and sustainability research programs.
• VGU (Vietnamese-German University)minorOthersLogo shown as partner on Indefol website. VGU is a Vietnamese-German university focusing on engineering and technology education.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Nel ASA: Norwegian manufacturer of alkaline and PEM electrolyzers for green hydrogen production. Nel is the most direct competitor to Indefol's IDF-EX product line and operates at much larger scale across Europe, North America and Asia.
• ITM Power: UK-based PEM electrolyzer manufacturer supplying industrial-scale green hydrogen systems across Europe. Competes with Indefol's alkaline technology but serves the same industrial decarbonization end-market.
• Cleantech Solar: Singapore-headquartered provider of solar PV solutions and decarbonization services to corporations across Southeast Asia and India, acquired by Brookfield Renewable. Closest peer to Indefol's rooftop solar EPC business for RE100 manufacturers.
• Thyssenkrupp nucera: German alkaline and PEM electrolyzer manufacturer with industrial-scale products targeting steel, ammonia and chemical customers. Directly comparable to Indefol's alkaline electrolyzer technology and Europe-focused commercial footprint.

Broad incumbents

• Plug Power: US-based broad incumbent in the green hydrogen ecosystem, spanning electrolyzer manufacturing, fuel cells and hydrogen fuel infrastructure. Much larger than Indefol but addresses overlapping industrial hydrogen customers.
• Sungrow: Global leader in solar inverters and now expanding into energy storage and green hydrogen power electronics. Tangentially comparable to Indefol via the solar + storage + hydrogen ecosystem, though larger and more diversified.
• Siemens Energy: Global energy technology major with electrolyzer, grid and industrial decarbonization offerings. Already a strategic partner of Indefol (collaborating on IDF-EX1000X COD), but also a competitive threat at larger deal sizes.
• Cummins (Accelera): Cummins' Accelera division manufactures PEM electrolyzers and fuel cells for industrial customers globally. Competes with Indefol in the broader industrial hydrogen market with much larger balance sheet and global sales reach.

Regional players

• Vena Energy: Singapore-based renewable energy developer with utility-scale solar, wind and storage across Asia-Pacific. Comparable to Indefol's larger pipeline ambitions (190 MW wind, 1 GW battery) but with a more utility-scale focus.
• GreenYellow: Vietnam-focused energy efficiency and decentralized solar developer serving industrial and commercial customers, including RE100-aligned manufacturers. Directly comparable to Indefol's Vietnamese rooftop solar EPC core.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/indefol-solar

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indefol Solar