Exploring biorecycling carbon waste into fuels & chemicals: This gas transmission company enters a strategic partnership with LanzaTech!
The stock is up by 20 per cent in just 1 year and over 70 per cent in 3 years.
GAIL (India) Limited, India's largest natural gas company and LanzaTech Global, Inc., USA, an innovative carbon capture and utilization (CCU) company that converts waste carbon into products that people use in their daily lives, have entered a partnership to explore innovative technology solutions that advance GAil's Net Zero 2040 goals and have the potential to support wider decarbonization applications globally.
GAIL and LanzaTech are teaming up for a pilot project to capture and convert CO2 into useful materials rather than releasing it into the atmosphere. By combining LanzaTech's carbon capture tech with GAIL's renewable H2 and CO2 streams, they aim to create everyday consumer goods like fuel, packaging, and clothing from biorecycled materials instead of virgin fossil fuels. This project could serve as a role model for sustainable CO2 conversion and resource utilization.
"The possibilities coming out of this collaboration with LanzaTech are very promising and significant to improving our carbon footprint," said Sandeep Kumar Gupta, Chairman and Managing Director of GAIL. "Using LanzaTech's cutting-edge technology will enhance our environmental stewardship and open up new avenues for driving sustainability across our operations."
"Waste CO2 can be used to make the things we need," said Dr Jennifer Holmgren, LanzaTech's CEO and Board Member of the US-India Strategic Partnership, "By combining LanzaTech's expertise in carbon recycling with GAIL's commitment to reducing emissions and implementing renewable projects, this project has the potential to turn CO2 from an environmental liability to a value-added product. CO2 can be the raw material of the future, enabling fossil carbon to stay underground. We look forward to launching our collaboration • with GAIL to make this vision a reality."
DSIJ offers a service 'Large Rhino' with recommendations for Large-Cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
On Thursday, shares of Gail India surged 0.91 per cent to Rs 110.45 per share from its previous closing of Rs 109.45. The shares of the company have a PE of 12.90x whereas the industry PE is 17.04x. The stock traded at an intraday high of Rs 111.60 and an intraday low of Rs 109.55.
Talking about the financials, the company has a market cap of over Rs 72,000 crore and reported positive numbers in its Quarterly Results and annual results. The stock is up by 20 per cent in just 1 year and over 70 per cent in 3 years. Investors should keep an eye on this large-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.