Thermax, a leading provider of energy and environment solutions, shares jumped more than 3% after the company announced a strategic partnership with Ceres Power Limited.
The two companies have signed a non-exclusive global licensing deal that permits Thermax to manufacture, sell and service stack array modules (SAM) based on Ceres’ innovative solid oxide electrolysis cell (SOEC) technology. Thermax will also develop, commercialise and sell SAM balance of modules (SBM) and multimegawatt SOEC electrolyser modules.
The partnership is a significant step toward accelerating the introduction of SOEC technology, which will enable cost-effective green hydrogen production in India and across the world.
As of 2:41 pm, Thermax shares were trading 2.67% higher at Rs 4,589.10 on the NSE.
