Hindustan Zinc launches EcoZen to drive greener future

25 Jul 2024 , 11:20 AM

Hindustan Zinc launched ‘EcoZen’ on July 24, a new low-carbon zinc product. This zinc is produced using renewable energy, reflecting the company’s commitment to green products. Commercial production of EcoZen has commenced, with the product expected to enter the market in August 2024.

EcoZen boasts a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc, which is about 75% lower than the global average.

At the time of writing on July 25, 2024 at 11:14 am, shares of Hindustan Zinc is currently trading at ₹624 which is a 1.48% dip than the previous close. Hindustan Zinc stock has gained a total of 96% in the last one year, and 96% since the beginning of the year.

The company has invested ₹3,000 Crore in renewable energy to support the production of this low-carbon zinc.

Arun Misra, CEO of Hindustan Zinc, stated that the company is negotiating with major steel makers in India for long-term agreements on green zinc.

The introduction of EcoZen is expected to result in a total carbon emission reduction of approximately 400 kg for every tonne of steel galvanized.

Currently, EcoZen constitutes 8-10% of the company’s production, translating to 60,000-64,000 tonnes annually. The company aims to increase this to 30-35% in the next year.

Recently, Hindustan Zinc signed power delivery agreements with Serentica to secure 450 MW of round-the-clock renewable energy, with plans to expand this to 600 MW.

Hindustan Zinc Limited (HZL) is an Indian integrated producer of zinc, lead, silver, and cadmium, and is a subsidiary of Vedanta Limited. It was formerly a Central Public Sector Undertaking before being sold to Vedanta Limited in 2003.

HZL is the world’s second-largest zinc producer and was established as a Public Sector Undertaking on January 10, 1966, from the Metal Corporation of India.