EKI Energy arm completes capacity expansion project in Maharashtra

27 Sep 2022 , 12:05 PM

The company said that the plant has a capacity to manufacture 5 million improved cookstoves per year, the highest ever in the biomass category. These improved cookstoves are being supplied for the clean cooking projects of major oil and gas players across the globe. The company aims to empower rural households globally with an efficient, safer, cleaner and healthier cooking solution. Under the brand name Agneeka, the company will manufacture and deploy improved cookstoves in a phased manner starting with villages in India and spreading across remote locations in other countries. The company said that each improved cookstove provided by EKI is 30% more efficient than traditional mud/three-stone fire cookstoves and enables a 45-55% reduction in the consumption of firewood as fuel. Pankaj Pandey, head of community-based projects, EKI Energy Services (EKIESL) said, We, at EKI, have a deep focus on community upliftment and aim to empower rural households globally with improved cookstoves while enabling strong climate action. We promise to continue enhancing our sustainability services, benefitting a larger section of society and expand our area of operations with a target to reach remote locations in other countries too. The aim is to steer the planet to net-zero while empowering communities. GHG Reductions Technologies was established earlier this year as a subsidiary for strengthening the backward integration of the carbon credit supply chain and for the end-to-end management of the green cooking initiative starting from manufacturing to the distribution of the improved cookstoves. EKI Energy Services is a carbon credit developer & supplier across the globe. EKI offers sustainable solutions for climate change and carbon offsets with global standards like CDM, VCS, Gold Standard, GCC, IREC, TIGR and others. The companys standalone net profit surged to Rs 106.98 crore in the quarter ended June 2022 as against Rs 35.70 crore during the previous quarter ended June 2021. Sales jumped 162.81% to Rs 508.11 crore in Q1 FY23 over Q1 FY22. The scrip shed 0.58% to currently trade at Rs 1,454.30 on the BSE. Powered by Capital Market – Live News