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Manali Petrochemicals ties with UK-based Econic for new Polyol Technology; Stock locks at new 52-week high

As per the regulatory filing, the partnership involves MPL and Econic collaborating to scale the technology at MPL's pilot plant in India.

September 28, 2021 2:39 IST | India Infoline News Service
Manali Petrochemicals Limited (MPL) has signed a Memorandum of  Understanding (MoU) with Econic Technologies for introducing more environment friendly, CO2 containing polyols, into the  $28Bn  global polyols market. The duo plans to scale their catalyst technology which would enable the substitution of fossil-based raw materials with captured waste CO2  in the production of polyols.

Muthukrishnan  Ravi,  Managing  Director  of  MPL  said, "We  are  happy  to  be  collaborating  with  Econic  in  testing  and  commercial development  on  this  green  initiative  that  is in line  with  our  vision  of  being  a responsible  corporate  citizen."

Keith  Wiggins,  CEO  of  Econic  Technologies  said, "We are  excited  to  begin  working  with  the    MPL  team,  the  industry  leader in  India, to help them  serve  their vibrant  and growing  polyurethane  market  with sustainable CO2 containing  polyols."

As per the regulatory filing, the partnership involves  MPL  and  Econic collaborating to scale the technology at  MPL's pilot plant in  India.  On successful completion,  this will be followed by the introduction of the process to one of the production trains in  MPL's main plant. 

The shared intent is to bring  COr containing polyols to  MPL's customers.

At around 2.37 pm, Manali stock froze at a new 52-week high of Rs117.45 per piece rising 4.96% on Sensex. 

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