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Stock Report
Aether Industries executes strategic agreement with Global Lithium-Ion Battery Producer
Posted On : 2023-12-19 10:27:21( TIMEZONE : IST )
Aether Industries Limited (NSE: AETHER, BSE: 543534), one of India's leading specialty and fine chemical manufacturers and a preferred provider of Contract Research and Manufacturing Services, has executed a strategic agreement and contract with a global lithium-ion battery producer, thereby announcing Aether's entry in the electrolyte additives and battery space. The agreement includes the commercial supply finalization of one specific electrolyte additive and initiates the discussion on three others.
Commenting on the agreement, Dr. Aman Desai (Director, Research, Manufacturing, and Operations) for Aether Industries said, "We are excited to announce this new partnership and strategic agreement with our new customer, a global lithium-ion battery producer. We are equally excited to announce Aether's entry in the electrolyte additives and battery space. As the world marches on towards decarbonization and sustainable practices, I don't need to emphasize the promise and tremendous opportunities that exist in this space for the speciality chemical industry. We have been developing products for this field for a long time but wanted to make it public knowledge only after securing a substantial commercial contract with a global lithium-ion battery producer, which I am happy to say that the current agreement has accomplished. Finally, coupled with our recent announcements with Saudi Aramco Technologies Company on the commercialization of the sustainable Converge® polyols technology and multiple ongoing projects and research within Aether, I am happy to report that Aether is firmly established as a premier India-based provider of sustainable and carbon neutral chemistry solutions across the industry spectrum."
Shares of Aether Industries Limited was last trading in BSE at Rs. 907.85 as compared to the previous close of Rs. 910.60. The total number of shares traded during the day was 60323 in over 3027 trades.
The stock hit an intraday high of Rs. 948.55 and intraday low of 900.00. The net turnover during the day was Rs. 55745305.00.
