Deep Polymers has signed a Memorandum of Understanding (MOU) with IIT Guwahati (IITG) as part of the IITG- Common Research & Technology Development Hub (CRTDH), which is funded by the Department of Scientific & Industrial Research (DSIR), Ministry of Science and Technology, New Delhi.
According to the terms of the MOU, IIT Guwahati agrees to provide Professional Services as needed. Deep Polymers Ltd. will invest in and make available plant and machinery for the development of biodegradable plastics and related technologies.
Further, it will provide services for R&D, manpower training, and technology dissemination related to biodegradable plastics, product development, and commercialization under the CRTDH, which is funded by DSIR, Ministry of Science and Technology, Government of India.
Deep Polymers made a deliberate decision to venture into Biodegradable Polymers in order to promote its efforts toward green living and waste reduction.
The scope of the MoU includes a discussion on sustainable polymer-based technologies, contract-based studies on sustainable polymers, training of industrial manpower in the area of bio-based, biodegradable polymers, and joint research on biodegradable plastics, etc.
At around 2.37 PM, Deep Polymers was trading at Rs147, up by 0.18% against previous close of Rs146.80 on BSE. The counter hit intraday high and low of Rs149.90 and Rs145.30 respectively.
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