Lumax Auto Technologies (LATL) has finalized the acquisition of a 60% stake in Greenfuel Energy Solutions, a major player in supplying fuel delivery and storage systems for CNG and hydrogen vehicles. This strategic acquisition, amounting to Rs 153.09 crore, was carried out through LATL's wholly owned subsidiary, Lumax Resources, funded by a mix of debt and internal accruals. By venturing into the green and alternative fuels sector, which includes applications in CNG and hydrogen, LATL aims to tap into a segment expected to experience significant growth in the near future. Greenfuel Energy Solutions stands out as a provider of high-pressure fuel systems for CNG and hydrogen automobiles, with a client portfolio that includes prominent OEMs such as Maruti Suzuki, TATA Motors, and Volvo Eicher Commercial Vehicles. The company's expertise in fire and smoke alarm systems further strengthens its position in the automotive industry. Leveraging strong technology partnerships, Greenfuel is well-positioned to offer cutting-edge solutions to its customers. This acquisition not only expands LATL's business scope but also opens up opportunities for enhanced collaboration with key industry players, setting the stage for accelerated growth and innovation in the green fuels sector.