Archive: March 31, 2023

India’s First Prototype Bridge using Indigenous 3D Printing Technology developed by IIT Hyderabad and Simpliforge Creations

Bangalore , 31st March 2023: A prototype 3D printed bridge has been developed and printed as a collaboration between IIT Hyderabad and Simpliforge Creations. The concept and design were developed and evaluated by Prof. K.V.L. Subramaniam and his research group, Department of Civil Engineering, IIT Hyderabad. The bridge was printed by Simpliforge, a startup company specializing in providing 3D concrete printing solutions. Designed as a pedestrian bridge, the prototype bridge is undergoing load testing and evaluation for functional use. The bridge has been designed at IIT Hyderabad broadly following form optimization to minimize the use of concrete and reinforcement. The concept of the bridge was developed following the concept of ‘Material follows Force’. Simpliforge Creations developed an extrusion and software system specifically for the project to fully exhibit the merits of their 3D printing system. Using the Industrial robotic arm 3d printer, the bridge was printed off-site in little under 2 hours at Simpliforge Printing facility and assembled on site at Charvitha Meadows, Siddipet.

Enlisting the uniqueness of the 3D Printing technology, Prof K.V.L. Subramaniam, IITH, said, “3D concrete printing is an emerging technology has the potential for transforming the construction industry with the promise of rapid, efficient, and free-form construction. Technology application in this space requires advancements in design methodologies, material processing, and delivery systems.”

“We are proud to have been a part of this ground-breaking project” said Mr. Hari Krishna Jeedipalli, Managing Director, Simpliforge Creations. “This bridge is a testament to the capabilities of 3D construction printing technology and its potential applications in infrastructural requirements, defense, and disaster scenarios owing to its speed and ease. We hope that this project will inspire others to explore the possibilities of 3D concrete printing in infrastructure and other industries.”

Angel & Rocket: Kidswear Just Got a Whole Lot Cooler

Do you want your little ones to look their cutest? Are you on the hunt for clothing that they can feel free in? Is high-quality fabric and design what you seek for your kids? Then Angel & Rocket is the international kidswear brand for you to count on.

The UK-based brand was launched in 2014 by Kate Bostock, who wanted to create clothing for kids that were bound to go places. She found inspiration in her experiences with her two sons and was supported by her husband. By 2019, Angel & Rocket reached Indian shores through a partnership with SP Retail Brands, based in Coimbatore, Tamil Nadu. The brand has expanded rapidly in the years that followed, opening three stores in major Indian cities and finding a place on some of the largest e-commerce platforms, like Myntra and Ajio. If you didn’t think it gets better, think again because Angel & Rocket has also been the recipient of numerous awards, including a bronze for the Best Children’s Fashion Brand, a silver for the Best Boy’s Fashion Collection and a silver for the Best Girl’s UK Fashion Collection at the 2022 edition of the Junior Design Awards held by Junior Magazine, UK.

Angel & Rocket prides itself on attention to detail and a passion for design and quality. Every last detail is considered, with only uncompromised clothing being offered to their customers. The brand is anchored by the motto of “Buy Better. Wear Longer. Hand down.” In this way, every one of Angel & Rocket’s apparel lines is led by trends but made sustainably through and through. The clothing is designed in the UK and made in ethical factories around the world. Angel & Rocket uses Fair Trade and organic cottons along with recycled polyester fabrics.

At Angel & Rocket, kids’ personalities are front and centre. The brand believes that children have a quirky individuality and an innate sense of style. You can clearly see this belief reflected in their fun, fresh and fashionable clothing that looks super-chic and translates equally well on an Instagram post and at the next kid’s birthday party. Adorable prints, bright colours and unique silhouettes adorn their delightful clothing lines.

Shop for the latest Angel & Rocket collections by visiting their stores in Bangalore and Hyderabad, Shopper’s Stop, Kapsons, Centro, First Cry, Nykaa, AJIO, Myntra and their website www.angelandrocket.in/collections/all-new-in

Somany Ceramics marks its entry in IPL 2023 as the Official Partner of Lucknow Super Giants.

SOMANY, a ceramic tile giant announced today its association with Lucknow Super Giants – the Indian Premier League (IPL) franchise team owned by the RP-Sanjiv Goenka Group, as their official partner. With this partnership, Lucknow Super Giants, popularly known as LSG will flaunt SOMANY’s logo on the helmet and cap’s.

Expressing his gratitude at the launch, Mr. Abhishek Somany, Managing Director of Somany & CEO ,Ceramics said, “We are excited to partner with Lucknow Super Giants for the 16th edition of Indian Premier League. Our slogan for the partnership is ‘Har andaaz mein zameen se jude’ which is a fusion of SOMANY’s rooted values of “Zameen se Jude” and LSG’s “Gazab Andaaz” slogan”. We are excited about the vision that the LSG franchise possesses alongside the leadership they’re backed by”.

The Lucknow Super Giants team also expressed their delight as they look forward to associate with the global leader in ceramic tiles. Expressing their happiness, Colonel Vinod Bisht, CEO, RPSG Sports said, “We are delighted to have Somany Ceramics as our official partner for the 2023 edition of the Indian Premier League. The brand’s commitment to quality and innovation resonates with our team’s values, our style of sport and play — plus the millions of fans who look up to us for inspiration. We look forward to working together with SOMANY to create engaging experiences for our fans through personalized campaigns.”

“This is a key milestone for us as at Creatigies as we stitch and manage this exciting partnership between Lucknow Super Giants and SOMANY Ceramics, added Mr. Navroze D Dhondy, Managing Director, Creatigies Communications — the agency that is managing the partnership on behalf of SOMANY.

The 16th edition of Indian Premier League will feature ten teams, where each team will play 14 matches. Lucknow Super Giants were the latest entrants in the league who made their debut last year. The team fared well and concluded the season as one of the semifinalists.

Sansera signs a Definitive Agreement for a strategic investment in MMRFIC Technology Private Limited

 March 2023, India – Sansera today announced that it has entered into a definitive agreement for strategic investment in MMRFIC Technology Private Limited (“MMRFIC”). MMRFIC is a Research, Design, and Manufacturing entity, building sub-systems for next-generation Radars by leveraging machine learning with artificial intelligence and, mm-Wave Sensors with hybrid beam-forming capabilities.

As per the terms of the agreement, Sansera would invest Rs. 200 Mln in MMRFIC via 1,49,250 CCPS of Rs.100/- each with a premium of Rs. 1240/- per CCPS; and 17 Equity Shares of Re 1/- each with a premium of Rs. 599/- per share. The equity percentage will be determined on the conversion of CCPS based on FY24 EBITDA. Based on projected FY24 EBITDA this investment would result in approx. 21% stake in MMRFIC. Sansera has a right to invest further and increase its stake up to 51% at a predefined valuation formula.

Investment Rationale

(i) Enter into high technology space and have access to a strong R&D and engineering team which can address our priority market segments viz., Defence and Aerospace. It also has the potential in the Security, Healthcare, Telecom (5G), and Automotive (autonomous driving – subsystems) technologies that can be exploited in the future.

(ii) Have access to world-class technologies.

(iii) Grow this Company to be a significant player in its sectors with further investment if required.

Commenting on the Strategic Investment Mr B R Preetham Group CEO, of Sansera Engineering Limited said, “I am very pleased to inform you that we have signed a definitive agreement for strategic investment in MMRFIC Technology Private Limited (MMRFIC). Diversification and collaborations have been an integral part of our journey since the very beginning. This transaction provides an opportunity to reinforce this strategy by increasing the pie of our non-ICE offerings. Further, it is a testimony of our commitment towards our emerging Aerospace and Defence business. With MMRFIC’s niche technology, we will create a product portfolio for AatmaNirbhar Bharat.

MMRFIC’s team of experts and years of R&D experience in the Radars space sets it apart and made a compelling investment case for us. This transaction will help us leap into futuristic technologies.

Over the years, Sandra has successfully demonstrated very strong technological competencies and an outstanding ability to serve large customers with excellence. The strategic investment in MMRFIC will help Sansera enter into high technology space and have access to a strong R&D and engineering team which can address our priority market segments viz., Defence and Aerospace. It also has the potential in the Telecom (5G) and Automotive (autonomous driving – subsystems) technologies in the future. Sansera’s market positioning will help MMRFIC to be a significant player in its sectors.

MMRFIC’s day-to-day business and operations will continue to be managed by its existing management team, which has successfully led the company to this stage.”

Commenting on the transaction Mr Saravana G, Founder, CEO & CTO MMRFIC Technology Pvt Ltd said, “We are very excited to join hands with Sansera Engineering through this transaction. This alliance is expected to provide significant future growth and value-creation opportunities to MMRFIC by supporting our global competitive positioning and increasing our scale, and addressable market. We look forward to working alongside the Sansera team to continue driving innovation and creating value.”

FLASH partners with Get My Parking to Accelerate Digitization of Parking Operators

India, 31.03.2023: Flash, the only global platform connecting cloud parking software to electric vehicle charging for a transformed mobility experience, has announced a re-selling partnership with Get My Parking (GMP), a global smart parking startup that offers white-labeled parking solutions capable of digitizing any parking lot. The sales partnership will open up opportunities for operators across North America looking to upgrade their parking locations’ technology efficiently and cost-effectively by leveraging Flash and GMP’s expertise to deliver comprehensive, innovative, and complementary parking solutions.

The modern parker demands a seamless digital experience in today’s mobility landscape. Always raising the standard for innovative ways to help customers anticipate mobility trends that shape their business, Flash set out to partner with GMP, already notable with cutting-edge Monthly Permit and Accounts Receivable products, fully white-labeled App, and plug-and-play Gate-kits.

With the re-selling agreement, Flash can sell a wide range of GMP custom-branded parking management solutions fully integrated with Flash hardware and platform, including payment processing, access control, permit management, accounts receivables, and more in the North American market. They can be purchased as a stand-alone or bundled package. GMP will also leverage Flash’s deep industry relationships and high-caliber installation and Support teams to accelerate and ensure seamless deployments.

“In today’s dynamic marketplace, we strive to deliver opportunities that help our customers stay operationally competitive and transform to meet consumer expectations of fully digital experiences,” said Dan Sharplin, CEO and Executive Chairman at Flash. “A partnership with GMP was the fastest way to offer our customers a further enhanced platform with additional white-label parking solutions.”

“Get My Parking is thrilled to partner with Flash to deliver comprehensive parking solutions that meet the evolving needs of the parking industry,” said Chirag Jain, CEO of Get My Parking. “With this partnership, GMP’s customers will now have the option to leverage Flash’s widespread installation and support team to deploy the GMP platform rapidly.”

GMP’s smart parking solutions are currently deployed in over 3,500 locations across five continents and have processed more than 100 million transactions. Flash has over 16,000 locations in the U.S. and Canada running parking and mobility solutions on the Flash platform, FlashOS.com. This partnership will enable faster and smarter parking transformation for parking operators and cities in America.

CEAT launches SUV tyre campaign featuring India’s Ace Cricketers Rohit Sharma, Shreyas Iyer and Shubman Gill

Kolkata, March 31, 2023: CEAT Ltd, India’s leading tyre manufacturer launched its new TVC for its four-wheeler SUV tyre range. The TVC features Rohit Sharma, captain of the Indian Men’s Cricket team, and two exciting young players, Shreyas Iyer and Shubman Gill – with all three of them featuring in somewhat different roles in the new advert. With the forthcoming cricket season, the three cricketers are all set to spread the message and highlight the importance of having good SUV tyres that can handle speed as well as offer a superior grip.

The new TVC conceptualised by Ogilvy, features an SUV with Rohit Sharma as a busy politician riding in the back seat and sharing nuggets of political wisdom. A bespectacled Shubman Gill, as a typically harried-looking politician’s secretary busy on his cell phone, is quickly alerted to his master’s latest pontification by the chauffeur, played by Shreyas Iyer in the video. As the secretary frantically searches for a pen to record the advice, just at that instant, around a sharp bend, a group of protestors suddenly appear in the middle of the road. The driver has to brake hard and swerve fast to prevent an accident. Once done, he is quick to repeat their master’s advice – the importance of ‘speed and grip’ in the context of both driving as also in politics. This analogy echoes the same attributes as exemplified by CEAT Tyres – and is demonstrated by Shreyas Iyer in adroitly avoiding an accident because of the superior grip of CEAT’s new SUV tyres at high speed. “You should definitely write it down”, reiterates Rohit Sharma to Shubman Gill to reinforce the message. The gospel for success in politics and that of safety on the roads is the same, as the TVC playfully tries to show.

The campaign once again leads back to CEAT’s purpose of ‘Making Mobility Safer & Smarter. Everyday’.

Speaking on the campaign, Mr. Lakshmi Narayanan B, Chief Marketing Officer – CEAT Limited said, “It’s the cricket season and CEAT is thrilled to get 3 of India’s top cricketers – Rohit Sharma, Shreyas Iyer and Shubman Gill in ‘never seen before’ avatars. CEAT’s wide range of SUV tyres have a unique capability to provide both speed and control while delivering on its promise of safety and comfort. Our range of offerings, which include SportDrive SUV, CrossDrive SUV and SecuraDrive SUV address a wide range of on-road and off-road requirements.”

Mr. Rohit Dubey Executive Creative Director, Ogilvy adds “In general, creatives are a little vary of sportsmen, when it comes to performing in front of camera. Scripts are watered down, roles are pruned, lines shortened or a ‘proper’ actor is built in for heavy lifting. But this time around, with CEAT’s conviction, the team got the confidence to go beyond the norm. We had three star players, acting out of their skin (and such a commendable job), in a duration strait-jacket of 20 seconds, segueing into tyre story, effortlessly. We are quite thrilled with the result, and awaiting all the brand love this one will garner in coming days.”

5 sectors to witness disruptive growth

Mr. Manish Chowdhury – Head of Research – Stoxbox

Capital Goods: We believe that India is on the cusp of a large-scale capex which was difficult to come since the peak of the investment cycle in 2011. Strong order backlog coupled with robust order inflows for the capital goods companies from diverse sectors such as railways, road, power T&D, digital automation, renewable sector, cement, oil & gas, etc. definitely suggests an uptick in the sector and reduces the risk of sector concentration. We expect a pick-up in execution to help capital goods companies to post healthy growth in topline going forward. Moreover, with the private balance sheet looking better (the low-interest rate regime of the past two-odd years helped corporates to reduce their debt), input cost pressures waning, corporate sales remaining buoyant, and easy availability of financial resources, we expect the contribution of private capex to improve going forward which was earlier led by more public-intensive projects. Going forward, capital goods companies would benefit as the manufacturing theme plays out in India due to the government’s PLI schemes and policies, various domestic initiatives (Gati Shakti, NIP, and NMP), global players’ preference for the China+1 strategy, and now Europe+1 on the back of rising energy costs and supply chain hurdles. We believe that the current investment cycle to be larger and more sustainable as it would be driven by other multiple sector-specific factors (renewable energy, defense, logistics, EV transport, urban infrastructure, etc.), thereby adding breadth to the capex cycle. With India going for general elections in 2024, infrastructure will be the focal point for government spending. We expect companies with better working capital cycle management and strong execution capabilities to be the larger beneficiaries of the revival in capex cycle.

FMCG: 2022 was a difficult year for FMCG companies as they took corrective actions to tackle inflationary pressure which included average price hikes of about 7-8%, thereby impacting volume growth considerably. However, we believe that the FMCG sector is in a sweet spot to weather the storm in 2023. A large part of the outperformance is expected to come from margin expansion due to easing inflationary pressures, evidenced by the fact that consumer price inflation eased to an 11-month low of 5.88% in November 2022. With the agriculture index down ~25% from recent highs and the Rabi outlook supportive of higher acreage and yield, we believe that FMCG companies would not resort to aggressive price hikes going forward. The companies with a higher footprint in rural areas (rural population constitutes ~ 65% of the total population) would be better placed as there could be a gradual recovery in volumes on the back of good harvest, higher minimum support prices (MSP), and an increase in fertilizer subsidy. Urban consumption is also likely to remain steady due to premiumization, an increase in the working-class population, and upward mobility in incomes, thereby reflecting on the performance of the modern trade segment. For the long to mid-term, there are many structural drivers in place for the FMCG sector including higher disposable incomes leading to a shift to branded products, a large opportunity to increase penetration in key categories in rural India, the emergence of new sales channels such as e-commerce/quick commerce/D2C, etc. With the competition in the FMCG sector expected to brew up with the entry of Reliance through the “Independence” brand, we feel that it would be prudent to stick with companies having large market shares in key categories and strong coverage of both urban and rural markets.

Pharmaceuticals: Despite the challenging macro environment including weak global economic growth and significant costs escalation during the year., we remain positive about the growth outlook of Indian pharmaceutical companies. The domestic-focused companies are expected to generate stable growth amid a focus on new product launches and improved demand for both generics and branded products. We believe that the domestic pharma business would be on the radar as the US market faces price erosion. To take advantage, pharma companies (Torrent Pharma, Alkem Lab, Eris Lifesciences, and J B Chemicals among others) have increased their R&D expenses and are focused on new product launches and entry into new therapies. We expect pharma companies (Sun Pharma, Lupin, Aurobindo, and Dr. Reddy’s), with a focus on US business, to witness normalcy in demand and higher new product launches, despite pricing challenges, intense competition, and stricter regulatory compliance requirements. The APIs-focused companies (Divis, Laurus Labs, and Aarti Drugs among others) witnessed a temporary slowdown in order flow from developed markets, However, the China+1 strategy is a long-term growth driver for API companies and the outlook remains robust. The EU market outlook remains cautious, given the inflationary pressure and uncertain macro environment. However, expansion in product offering, market share gains, and entry into new geographies in Europe would cushion the adverse effects for pharma companies.

Banking: After the hiccups of the COVID-19 pandemic, the Indian banking sector has emerged stronger and the outlook for 2023 remains positive. Currently, the credit growth of ~18% is at a decadal high, while the deposit growth of ~10% is also picking up pace. With a rising interest rate scenario and strong demand for loans due to a revival in the economy, the banking sector is likely to benefit from expanding margins as it passes on rate hikes through the floating rate loans while simultaneously delaying the rate hikes for deposits. Moreover, retail-funded balance sheets, benign credit costs, and a higher share of repo-linked loans place the banking sector in a sweet spot to further enhance its profitability. We expect banks to maintain strong advances growth going forward, supported by urban growth with household leverage remaining moderate along with an acceleration in the capex cycle. Another factor to aid the performance of the banking sector is the improving asset quality due to lower new NPL along with the benefits of higher provisioning during COVID. The private sector space is likely to remain the most sought amongst investors due to strong underwriting standards, favorable sector tailwinds, and little room for surprises both on the earnings and execution side. Though there has been a run-up on the PSB side, we continue to prefer banks with strong deposit franchises, scale, and lower operation costs, as the pace of consolidation gathers steam.

Automobiles: Several positive factors are at play at the same time which makes the automobile sector an ideal candidate for consideration in the upcoming year. With the sector looking largely bottomed out following a cycle of muted demand, we feel that PVs, CVs, and tractor segments look relatively better placed compared to the two-wheeler market. The PV segment is set for record sales in 2022, with an expected sale of 38 lakhs units which is almost 12% higher than the previous best of 33.8 lakh units in 2018. With the semiconductor supply issues moderating and industrial commodities weakening, the strong order book of PV companies (estimated at over 10 lakh units) would start translating into business performance. Moreover, new product launches by OEMs, expected strong demand in the replacement category of CVs, and robust capex plans by companies bode well for the overall auto sector. The EV segment could play a dark horse for companies having exposure to this fast-growing segment. We believe that the two-wheeler segment could witness muted growth as the rural economy is still not firing on all cylinders. Going into 2023, the cost of financing vehicles, raw material prices, and new emission and safety norms (implementation of the second phase of BS VI emission norms from April 2023) would be the key monitorable which could further set the tone for the auto sector.

India’s initiative in Environment, Water Conservation has set an example for world: Gajendra Singh Shikhawat

New Delhi – Jal Prahari Samman Samaroh 2023 was organised by sarkaritel under the joint aegis of Ministry of Jal Shakti, National Jal jeevan mission and national water mission on March 29, at Maharashtra Sadan, honoured more than 51 people JAL PRAHARI’s (water conservators ) across the country working passionately towards climate change and drinking water crisis management. Jal Praharis, included farmers, scientists, IAS, IRS district level officers and even school principal, who with their innovative uses, equipments, experiments, unique traditional methods have been saving lakhs of litres of water in their areas.

Chief Guest of the occasion, Jal Shakti Minister Shri Gajendra Singh Shikhawat graced the occasion with his presence and honoured the JAL PRAHARI’s from 22 states of the country. In his speech he said, “In the field of water conservation, India’s contribution is extraordinary and beyond imagination. India’s participation in the United Nations World Water Summit and World Water Forum gave India a chance to showcase their work in the field of water conservation which even got appreciated by the United Nations president and other foreign delegates. India’s initiative in Environment and Water Conservation has set an example for world in a very short span of time. India has diverted all the resources from general public to Govt. towards the need and concern of water problems, which has increased three fold with the increase in India’s population. We as responsible Indian citizen should work sincerely towards saving water and avoiding water wastage for our future generation. The future of earth lies in water therefore water needs to be saved for future of our mother land, the sooner we understand the better we are at saving ground water level and climate change for future generation”

Ms. Archana Verma, IAS officer and Mission director, National Water Mission very rightly said, “We never know the worth of water until the well is dry, and going by the figure, the concerns regarding water shortage is grave and which needs to be addressed the soonest with water crisis management”.

Water Warriors from 22 states across the country were honoured at the Jal Prahari ceremony. One water saviour each from states like Delhi, Bihar, Andhra Pradesh, Assam, Chattisgarh, Gujrat, Himachal Pradesh, Jammu, Jharkhand, Punjab, Tripura, Odisha, Tamil Nadu, Telangana etc. and two water saviour each from Haryana, Karnataka, Uttarakhand were selected for the honour. Chief Guest was Minister of Jal Shakti, Honourable Shri Gajendra Singh Shikhawat, Guest of Honor were Dr, Bhagwat Karad, Shri Gopal Shetty, Shri Unmesh Patil, Shri Gopal Arya, BK Asha Didi, Shri Tridev Swami, Shri Sunil Deodhar. Along with them ambassadors of many countries including Netherland, Finland, Malta, Uzbekistan, Tajikistan were present to grace the occasion. Giving more information about the program, the convenor of the ceremony, Anil Singh said that the National Water Mission, UNOPS, CEEW were the knowledge partners of the program and Jal Praharis include many schools, colleges, universities, district officials, non govt organizations and private institutions.

CEO and Editor in Chief, Sarkaritel.com, Ameya Sathe said that, “It was the privilege to honor 11 water conservationists from Uttar Pradesh, 8 from Rajasthan and Madhya Pradesh and 10 water conservationists from Maharashtra for their efforts put in water conservation activities across the country and the World”.

Names of the water warriors that were honoured at the ceremony are: Ajit Powar (IAS), Amit Kumar, Anil Sharma, Ankit Kumar Agarwal (IAS), Anshul Garg (IAS), Aruna M Vishweshwar, Arvind Singh, Asha Prabhakar, Bavita Rajput, Bratindi Jena, Chandan Singh Nayal, Chattar Singh, Dattu Rambhau Dhage, Deepak Gupta, Deepak Meena (IAS), Deepak Hari Ranade, Devashish Majumdar, Devvrat Rajkumar, Divya Mittal (IAS), Gajendra Singh, Hanumant Baburao, Nagorao Kendra, Kirti Sharma, MVSS Girdhar, Makarand Anaspure, Manish Rajput, Manubhai Chaudhary, P Yadu Bhushan Reddy, Peter Alexandar, Prasanna Prabhu, Priyanka Pratap Patil, Rajesh Pandit, Rajkumar Rajput Ramesh Goyal, Ramesh Kumar Singh, Ravindra Singhal (IPS), Ravindra Kumar Mander (IAS), Ruma Pathak, Sandeep Kumar Salunkhe (IAS), Sanjay Dutta, Sanju Yadav, Shambhu, Shashikant Dalvi, Shiv Kumar Upadhayay, Snehal Donde, Suman Sharma, Uddhav V Bhosle, Umesh Kumar, Vipin Dubey and Abhijeet Raut (IAS Chief).

Significantly, World Water Day is celebrated every year on March 22, which aims to ensure the availability of clean water in the world and also focus on the importance of water conservation through the program.

Essar Project chosen by the UK Government

Bangalore/Mumbai/London 31 March 2023: Essar welcomes the Department for Energy Security and Net Zero’s (DESNZ), cluster sequencing Phase-2 announcement confirming that EET’s Vertex Hydrogen project has been chosen as part of one of the two hydrogen plants that will help build the UK’s hydrogen economy.

The announcement follows the UK Government’s commitment to providing up to £20bn in funding for early deployment of carbon capture, usage and storage (CCUS) to help meet its climate commitments. The funding supports private investment and job creation in locations including the North West of England, Essar’s UK home. This development supports Essar’s commitment to major investment in the UK in support of the UK Government’s net zero ambitions.

Recently, Essar launched Essar Energy Transition (EET) to invest US$3.6 billion in developing a range of low carbon energy transition projects over the next five years, of which US$2.4 billion will be invested at the Stanlow site in Ellesmere Port, between Liverpool and Manchester.

This plan includes Vertex Hydrogen which will produce some 350MW of hydrogen from 2026, making it one of the UK’s leading low carbon hydrogen businesses. Some 600 thousand tonnes of CO2 will be captured and stored using HyNet’s carbon-capture infrastructure – the equivalent to taking around 250,000 cars off the road.

Vertex provides vital but ‘hard to abate’ industrial and power generation businesses with a route to decarbonise delivering job certainty and growth in a globally emerging sector. The direct investment in the production plant will be nearly £500 million and is a critical first step in building a hydrogen economy in the North West.

Vertex is also rapidly progressing a second plant (HPP2) for 700MW into Front-End-Engineering-Design. This will be completed in 2023, positioning Vertex as the enabler of a broader hydrogen economy in the North West. The HPP2 plant has today received support from the Net Zero Hydrogen Fund as part of its development.

Prashant Ruia, Director, Essar Capital, said:

“I welcome and thank the UK Government for their support to our investment. This enables us to confidently move forward with our plans in EET to build a premier energy transition hub in the North West of the UK, anchored around our Stanlow Refinery. Today, huge progress has been made. We are more confident than ever in the potential of our UK site, with its core contribution to HyNet, to play a vital role in the UK’s decarbonisation strategy and to act as a catalyst for significant investment in our region. We are demonstrating how legacy industrial businesses can become part of the solution, and drive decarbonisation across the North West’s industrial heartlands”.

EET will include:

• Essar Oil UK, the company’s refining and marketing business in North West England;
• Vertex Hydrogen, which is developing 1 gigawatt (GW) of low carbon hydrogen for the UK market, with follow-on capacity set to reach 3.8GW;
• EET Future Energy, which is developing 1 GW of green ammonia in India, targeted at UK and international markets;
• Stanlow Terminals Ltd, which is developing enabling storage and pipeline infrastructure; and
• EET Biofuels, which is investing in developing 1 MT of low-carbon biofuels.

EET’s strategy is founded on the fact that hydrogen and biofuels are fast becoming globally significant fuels of the future and that the UK is positioned strongly to spearhead the rapid growth of the European low carbon fuels market. The UK already benefits from an advanced regulatory and policy framework to support low carbon energy production, including the UK government’s target of achieving 10GW of hydrogen production by 2030.

Such is the scale of the market growth opportunity that EET estimates approximately two-thirds of its aggregate cash flows could come from diversified low carbon sources before the end of the decade. As a core part of the HyNet cluster, Essar’s Stanlow site is in one of the only two hydrogen clusters in the country to potentially be supported through to full operations. The Stanlow refinery itself will also achieve a 75% reduction in carbon emissions before the end of this decade and net zero by 2040.

In addition to the US$2.4 billion investment in the UK, EET will also invest US$1.2 billion in developing a cost-efficient global supply hub for low carbon fuels in India