Hot Pursuit     03-Jan-24
Adani Total Gas inks MoU with Shigan Quantum Technologies
Adani Total Gas (ATGL) said that it has signed memorandum of understanding (MoU) with Shigan Quantum Technologies for decarbonizing the supply chain by creating an ecosystem which will enable transitioning to cleaner fuels such as CNG and LNG.
Shares of Adani Total Gas were locked in upper circuit of 10% at Rs 1,100.65 and Shigan Quantum Technologies also hit an upper circuit of 5% at Rs 140.90.

Under the MoU, both ATGL and Shigan will explore various areas of collaboration. The primary focus of both the partners will be on adopting natural gas for transportation and mining applications through sustainable solutions for fleet operators, including those deployed by Adani Group companies in sectors like cement, ports and logistics. The LNG retrofitment solution also will explore various applications like stationary engines, locomotives and marine equipment.

The said collaboration will have a positive impact on the environment and the broader business community.

The company said that this partnership will explore developing e-mobility based solutions for last mile delivery players and use cases for green hydrogen as fuel for ICE (internal combustion engine) vehicles. The MoU will enable both parties to prioritise their sustainability efforts without compromising on operational efficiency.

Suresh P. Manglani, executive director and CEO, ATGL, said, “The signing of the MoU represents a collective vision for a greener, more sustainable future. We look forward to co-developing end-to-end solutions, which will support the transport and mining industries in their decarbonization journey and contribute to the net zero commitments of the country.

Shishir Agrawal, managing director, Shigan, expressed enthusiasm about the collaboration, said, “This MoU marks a significant step forward in our joint commitment to environmental responsibility. By transitioning to cleaner fuels, we aim to not only reduce our carbon footprint but also inspire positive change within industry."

Adani Total Gas is engaged in selling and distribution of natural gas. The company is engaged in the development of city gas distribution networks to supply piped natural gas to industrial, commercial, domestic (residential) customers and compressed natural gas to the transport sector.

Shigan Quantum Technologies is engaged in the business of designing, developing and manufacturing of various types of alternate fuel systems including CNG, LNG, Hydrogen Fuel Kit systems for automotive, locomotive, stationary engine applications, heavy duty vehicles, light duty vehicles and off-highway applications.

Previous News
  Sensex adds 225 pts; European mkt opens higher
 ( Market Commentary - Mid-Session 23-Sep-24   13:34 )
  Market opens at fresh life high; breadth strong
 ( Market Commentary - Mid-Session 23-Sep-24   09:37 )
  Stock alert: Vodafone Idea, Adani Total Gas, Mankind Pharma, BHEL, Tata Steel,
 ( Market Commentary - Stock Alert 23-Sep-24   08:32 )
  Adani Total Gas secures $375 million financing from global lenders
 ( Hot Pursuit - 21-Sep-24   12:06 )
  Adani Total Gas secures financing of USD 375 mn from global lenders
 ( Corporate News - 21-Sep-24   10:50 )
  Shigan Quantum Techs. to hold AGM
 ( Corporate News - 14-Aug-24   17:51 )
  Adani Total Gas
 ( Results - Analysis 30-Jul-24   11:02 )
  Barometers end flat; broader mkt rallies; VIX spurts nearly 6%
 ( Market Commentary - Quick Review 29-Jul-24   16:06 )
  Adani Total Gas gains after Q1 PAT jumps 20% YoY to Rs 177 cr in FY25
 ( Hot Pursuit - 29-Jul-24   15:08 )
  Adani Total Gas consolidated net profit rises 14.39% in the June 2024 quarter
 ( Results - Announcements 29-Jul-24   14:57 )
  Board of Adani Total Gas approves appointment of nominee director
 ( Corporate News - 29-Jul-24   14:24 )
Other Stories
  UCO Bank’s total advances jump 19% YoY in Q2 FY25
  04-Oct-24   15:15
  Vakrangee Ltd leads losers in 'A' group
  04-Oct-24   15:00
  Kamdhenu Ventures Ltd leads losers in 'B' group
  04-Oct-24   14:45
  GRSE bags Rs 226-cr LoA from West Bengal Govt
  04-Oct-24   14:40
  Volumes soar at Avenue Supermarts Ltd counter
  04-Oct-24   14:30
  Real Estate stocks edge lower
  04-Oct-24   14:00
  Auto stocks edge lower
  04-Oct-24   14:00
  Utilties stocks edge lower
  04-Oct-24   14:00
  HDFC Bank Ltd down for fifth straight session
  04-Oct-24   13:35
  Power Grid Corporation of India Ltd down for fifth straight session
  04-Oct-24   13:35
Back Top