Thermax Babcock & Wilcox Energy Solutions (TBWES) signed a know how transfer and license agreement with Steinmtiller Babcock Environment (SBE), Germany for waste to energy technology.
As a part of the agreement, TBWES will design, engineer, manufacture and sell municipal solid waste fired waste to energy solutions incorporating SBE's well established grate and boiler technology.Commenting on the development, Pravin Karve CEO of TBWES said, "Thermax has always brought proven global technologies to India and this collaboration is one more step in that direction. We are proud to be closely associated with a global leader having the most advanced and reliable technology. This partnership will provide us with a technology edge and help us deliver on our brand promise of 'Conserving Resources, Preserving the Future'. It will accelerate our involvement in the waste to energy application, much needed for solving the dual challenge of urbanisation and deteriorating environment."
Shares of Thermax were down 1.17% at Rs 1339.10 on BSE.
Thermax, a leading energy and environment solutions provider is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals.
Thermax's consolidated net profit fell 2% to Rs 83.26 crore while net sales remained almost flat at Rs 1,410.59 crore in Q3 FY21 over Q3 FY20.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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