MTAR Technologies Limited, a leading precision engineering company serving clean energy, space, defense, and nuclear sectors, has announced a major order win in the clean energy space. The company has secured fresh orders worth USD 43.87 million (approximately ₹386 crore) from its long-standing customer Bloom Energy Corporation, further strengthening its position in the fuel cell segment.
According to the company’s filing, the new orders are part of MTAR’s ongoing business relationship with Bloom Energy and will be executed in phases. Out of the total, ₹205 crore worth of orders are scheduled for execution by March 2026, while the remaining ₹181 crore will be delivered by June 2026.
Commenting on the development, Mr. Parvat Srinivas Reddy, Managing Director of MTAR Technologies, said: “The company continues to strengthen its presence in the Clean Energy – Fuel Cells segment, driven by its cutting-edge product portfolio, timely execution, and cost competitiveness, despite macro challenges such as tariffs. In addition, we expect further orders from the fuel cells segment going forward.”
The company clarified that these orders have been awarded by an international customer, and there is no promoter or group company interest involved. The transactions also do not fall under related-party agreements.
