Sterlite Technologies ties up with green hydrogen producer; shares jump to 2-week high

STL informed the stock exchanges that it has collaborated with home-grown company Hygenco for the supply of Green Hydrogen to its manufacturing plants.

Under the tie-up, Hygenco will set up a green hydrogen plant on build-own-operate basis for STL to supply the fuel for 20 years.

The facility will be operational in the next 15-18 months and will be based on renewable energy.

STL said that the project would be the first green hydrogen facility in the domestic optical industry and would aid its NetZero by 2030 ambition.

STL explained that hydrogen and oxygen are critical elements in the manufacturing of optical fibre as these are used as fuel in blast furnaces for making glass from silica particles. But these gases are considered as hard to decarbonise.

Hygenco aims to reduce the carbon footprint by 30 percent through the green hydrogen facility.

The company on Tuesday announced that its wholly-owned subsidiary STL Digital has launched a generative artificial intelligence (AI) platform for enterprises.

Alnnov, a fabric of generative AI services, frameworks, methodologies and solutions designed for enterprises would accelerate Generative AI-led innovation and adoption, the company stated.

The solution helps in the development of embedded AI applications for multi stakeholder experiences while empowering enterprises to innovate using AI and realising their business value, stated STL.

Shares of Sterlite Technologies were trading 2.48 percent higher at Rs 161.35 apiece on BSE at 12.19 PM.