Shares of Sterlite Technologies Ltd surged 5% to touch a day’s high of Rs 121.99 on 17th July, after the company announced a collaboration with Hygenco to set up Maharashtra’s first green hydrogen production facility for optical fibre manufacturing.
Sterlite Technologies has partnered with Hygenco to set up Maharashtra’s first green hydrogen facility for optical fibre manufacturing, located in Chhatrapati Sambhaji Nagar. The plant will supply green hydrogen and oxygen to Sterlite’s glass preform facility.
With this move, the company aims to become one of the world’s first optical fibre manufacturers to utilise 100% green hydrogen in its production, supporting its goal of achieving net-zero emissions by 2030.
Hygenco will build, own, and operate the facility, ensuring a steady and cost-effective supply for the next 20 years.
Sterlite said this step sets a new benchmark in decarbonising the optical fibre industry. Hygenco also highlighted the potential of green hydrogen to transform India’s sustainability journey.
At 1:35 PM, the shares of Sterlite Technologies were trading 4.32% higher at Rs 119.50 on NSE.
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