In a significant move towards advancing sustainable energy solutions for communities, EKI Energy Services Ltd., a leading carbon credits developer and supplier globally, and Indian Oil Corporation Ltd. (IndianOil), India's flagship Maharatna oil company, have formalized a Memorandum of Understanding (MOU). This strategic collaboration aims to promote "Surya Nutan", IndianOil's innovative indoor solar cooking system.
IndianOil, the country's largest fuel refiner and retailer, has a prominent presence across the entire hydrocarbon value chain. Aligned with the nation's green goals, the Fortune 500 energy major has committed to go net zero by 2046 and is diversifying its portfolio to include alternative energy sources. One notable addition is the development of "Surya Nutan" an Indoor Solar Cooking System; a stationary, rechargeable, and always kitchen-connected indoor cooking solution based on IndianOil's patented technology.
Under the MOU, IndianOil will share the technology of "Surya Nutan" with EKI to enhance its production and distribution, supported by carbon finance while contributing towards the betterment of society and environment. EKI will oversee the end-to-end management of 'Surya Nutan' encompassing manufacturing, marketing, installation, and the provision of after-sales services. This will be achieved by leveraging carbon finance, corporate social responsibility, or any other similar means.
This collaboration signifies a commitment to advancing clean energy practices and fostering a more sustainable future. The cooperative effort aims to bring about positive change by promoting accessible and eco-friendly cooking solutions in the market and the partnership underscores the joint efforts of EKI and IndianOil to drive positive change and contribute to India's sustainable energy landscape.
Mr. Manish Dabkara, MD & Chairman, EKI Energy Services Ltd., said, "This collaboration stands as a testament to our unwavering dedication to promote community level decarbonization solutions. By promoting 'Surya Nutan', we are not just endorsing innovation but also embracing our responsibility towards the country's environmentally sustainable development needs. This initiative resonates with our core values, marking a significant stride in our commitment to ushering in cleaner and more efficient energy alternatives in India."
"We believe that 'Surya Nutan' has the potential to revolutionize how we approach indoor cooking, aligning seamlessly with our vision for a greener and more sustainable future. We look forward to the positive impact this partnership can have on the lives of individuals and the environment, setting a new standard for responsible corporate collaboration in the pursuit of a better world.", he added.
Shares of EKI Energy Services Ltd was last trading in BSE at Rs. 409.90 as compared to the previous close of Rs. 410.45. The total number of shares traded during the day was 60771 in over 2051 trades.
The stock hit an intraday high of Rs. 414.00 and intraday low of 408.65. The net turnover during the day was Rs. 24925762.00.