Hyderabad

MTAR Tech bags $22 million orders

Precision engineering solutions company MTAR Technologies has received $22.12 million (approximately ₹ 174.6 crore) order in Clean Energy sector.

The orders are expected to be executed from Jan-June 2023, the company said on Thursday. MTAR is well positioned to capture the market potential available in Clean Energy sector, which is poised to grow at an accelerated pace amid the global carbon emission reduction targets. The green hydrogen market in India is expected to be $8 billion by 2030 and $340 billion by 2050. Also, NITI Aayog has suggested a production linked incentive scheme for electrolyser and fuel cells, Managing director Parvat Srinivas Reddy said.


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Printable version | Jul 29, 2022 5:45:42 pm | https://www.thehindu.com/news/cities/Hyderabad/mtar-tech-bags-22-million-orders/article65586688.ece