Stock Report

Prayagraj Power Generation Company inks MoU with ZaaK Technologies for Upcycling Ash to Sustainable Sand Material

Posted On : 2022-02-22 19:23:20( TIMEZONE : IST )

Prayagraj Power Generation Company inks MoU with ZaaK Technologies for Upcycling Ash to Sustainable Sand Material

Prayagraj Power Generation Company Limited (PPGCL) has signed an MOU with ZaaK Technologies GmbH to jointly establish India's first Lypors® pilot manufacturing plant at PPGCL. PPGCL is a wholly owned subsidiary of Renascent Power Ventures Private Limited incorporated in India which is in turn a wholly owned subsidiary of Resurgent Power Ventures Pte. Limited (a joint venture between Tata Power International Pte. Ltd. (TPIPL) (a wholly owned subsidiary of The Tata Power Company Limited), ICICI Bank Ltd. (ICICI Bank) and other reputed global investors.

The partnership between the PPGCL and ZaaK would create a whole new industry of sustainable construction material by reducing the consumption of precious natural sand resources. This will enable PPGCL to move rapidly towards its goal of adopting sustainable practices in thermal power generation. Lypors® is a sustainable sand material manufactured through a patented process by upcycling a wide range of mineral wastes, including fly ash, pond ash, old-deposited ash, bauxite residue and is used to produce lightweight concrete, mortar, plaster, and other building products.

The partnership of PPGCL with ZaaK is in alignment with the Ministry of Environment Forest and Climate Change's draft notification, mandating 100% ash utilization.The technology will enable the country to manage the gainful utilization of fly ash.

"We are happy to work with Zaak Technologies, and we are certain that Lypors® will be a gamechanger in turning Thermal Power ash into a useful and sustainable product. Our commitment to carbon neutrality and the circular economy will be strengthened even more as a result of this collaboration." said Mr.Vijay Namjoshi, Chief - Generation, Tata Power.

ZaaK is a German innovation company in the Greentech space, founded by Dr. Abbas Khan, an alumnus of IIT Bombay. With its state-of-the-art technology, ZaaK intends to revolutionize the construction sector through energy efficiency, lightweight construction products extending the life of buildings.

"With this partnership, we intend to support Tata Power in recycling industrial waste from their plant into high-value products, thereby assisting them in their efforts to reduce carbon footprint. Our technology will enable India to achieve its policy of complete utilization of ash, which is a big step in its journey towards sustainability," said Dr. A. Khan, CEO of ZaaK.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 222.60 as compared to the previous close of Rs. 225.00. The total number of shares traded during the day was 3922494 in over 47489 trades.

The stock hit an intraday high of Rs. 224.70 and intraday low of 210.00. The net turnover during the day was Rs. 868849990.00.

Source : Equity Bulls


TataPowerCompany INE245A01021 MOU PrayagrajPowerGenerationCompany ZaaKTechnologiesGmbH