Sterlite Technologies Ltd (STL), a leading optical and digital solutions company, on Wednesday announced that it has collaborated with Hygenco, a homegrown green hydrogen solutions provider, for the supply of Green Hydrogen to its manufacturing plants, the company announced through an exchange filing.
In this long-term offtake agreement, Hygenco will build-own-operate the Green Hydrogen facility for STL for 20 years. This facility will be based on renewable energy and commissioned in the next 15-18 months.
First Green Hydrogen project in India's Optical industry
This project will be the very first Green Hydrogen project in India's Optical industry and boost STL’s NetZero by 2030 ambition.
STL has deep expertise in materials science, photonics and precision engineering and has set up a semiconductor-grade Glass Preform Plant in Aurangabad, Maharashtra. This Industry 4.0 powered plant is dedicated to manufacturing Glass Preforms, which are used to draw world-class optical fibre. Hydrogen and Oxygen are critical components in the production of optical fibre and are used as fuel in blast furnaces for making glass from silica particles. In the optical fibre value chain, gases like Hydrogen and Oxygen are considered as hard to decarbonise areas. STL and Hygenco, through this ambitious Green Hydrogen partnership, aim at carbon abatement to the tune of approximately 30 percent year on year.
Currently, STL uses electrolysers running on conventional energy. Now, renewable energy-based electrolysers installed by Hygenco will enable STL to in-source its Hydrogen requirement, thereby reducing occupational health hazards associated with procuring Hydrogen in cylinders.
Speaking on this collaboration, Ankit Agarwal, Managing Director, STL, said: “Through this collaboration with Hygenco, STL embarks on a transformative journey towards sustainability, harnessing the power of green hydrogen, an eco-friendly solution that empowers our Glass plant with clean energy. This partnership exemplifies our commitment to environmental stewardship, innovation, and a sustainable tomorrow, where we create products that transform billions of lives."
Sterlite Technologies Ltd shares
The shares of Sterlite Technologies Ltd on Thursday at 11:51 am IST were at Rs 161.40, up by 2.54 percent.