Shares of Sterlite Technologies Ltd. (STL) surged by over 4% on Thursday, July 17, as the company said it has collaborated with Hygenco for Maharashtra’s first green hydrogen production facility for optical fibre.The project is centred in Chhatrapati Sambhaji Nagar, Maharashtra, and will supply green hydrogen and oxygen to Sterlite Tech’s glass preform facility, the company said in an exchange filing.
The green hydrogen facility will enable the company to become one of the world’s first optical fibre manufacturers to deploy 100% green hydrogen in its production processes and support its goal to achieve net zero by 2030, it said.
Hygenco will build, own and operate the facility, ensuring a reliable and commercially viable supply for 20 years, the exchange filing stated.”By leveraging 100% green hydrogen for its glass preform manufacturing, STL is setting a new global benchmark for decarbonisation in the optical fibre industry,” Rahul Puri, CEO of Optical Networking Business at STL, said.
The green hydrogen facility will enable the company to become one of the world’s first optical fibre manufacturers to deploy 100% green hydrogen in its production processes and support its goal to achieve net zero by 2030, it said.
Hygenco will build, own and operate the facility, ensuring a reliable and commercially viable supply for 20 years, the exchange filing stated.”By leveraging 100% green hydrogen for its glass preform manufacturing, STL is setting a new global benchmark for decarbonisation in the optical fibre industry,” Rahul Puri, CEO of Optical Networking Business at STL, said.
Hygenco CEO Amit Bansal added that green hydrogen has the potential to be a game-changer in India’s journey towards sustainability.
STL shares were up 4.33% at ₹119.51 apiece at 12.10 pm on Thursday, July 17. The stock has gained 6.4% in the past month.
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(Edited by : Shloka badkar)
