Carbon Fibre Reinforced Wrapped Type-IV CNG Cylinder approved for on-board (vehicle) applications

Time Technoplast Ltd had earlier announced successful completion of testing of Carbon Fibre wrapped Type-4 Composite Cylinders for 'On-Board' (vehicle) applications. The company had then anticipated the formal approval soon from Petroleum & Explosives Safety Organization (PESO) and Bureau Veritas under International Standard ISO:11439:2013.

PESO has formally notified the company about their approval for Type-4 Composite Cylinders for 'On-Board' application for range of Cylinders. Bureau Veritas has also confirmed their approval through a separate communication.

The company is in touch with some of most reputed OEMs for Buses, HCVs, CVs, Passenger Cars and also with manufacturers of CNG Conversion Kits for the aftermarket. However, they all had been waiting for PESO's approval to take the projects forward. Company's CNG Cylinders under the brand NEX-G are the only indigenously made Composite Cylinders which have been accorded this coveted approval from PESO under highest international standards.

With PESO approval in place, Company expects significant movement for the use of Type-4 Composite Cylinders by OEMs and also in the aftermarket. It may be worthwhile mentioning that the Company had already received PESO's approval for Type-4 Composite Cylinders for Cascade application. Several of Type-4 Composite Cylinder Cascades are successfully in operation already.

Shares of TIME TECHNOPLAST LTD. was last trading in BSE at Rs.81.5 as compared to the previous close of Rs. 82.1. The total number of shares traded during the day was 98335 in over 1289 trades.

The stock hit an intraday high of Rs. 83.45 and intraday low of 80.35. The net turnover during the day was Rs. 8066948.

Source : Equity Bulls

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