Time Techno Receives Final Approval for Manufacturing Type-IV Hydrogen Composite Cylinders in India
Key Ideas
- Time Techno in India is the first company to receive final approval from the Petroleum and Explosives Safety Organisation (PESO) for manufacturing Type-IV hydrogen composite cylinders.
- The stock of Time Technoplast has surged by 85% in the past six months following the news of the approval, reaching a 52-week high, indicating investor confidence.
- The approval is seen as a significant milestone in advancing sustainable green energy efforts for Time Techno, aligning with the global trend towards green energy solutions.
- The company anticipates positive impacts on the industry and the environment with the entry into the rapidly growing market for high-pressure composite cylinders for hydrogen.
Time Techno, a technology-based polymer products company in India, made history by becoming the first in the country to receive final approval from the Petroleum and Explosives Safety Organisation (PESO) for manufacturing Type-IV hydrogen composite cylinders. This achievement marks a crucial step towards sustainable green energy initiatives. Following the approval, Time Technoplast's stock surged by 85% in the past six months, outperforming the market index. The company expressed enthusiasm for the future and the positive impact of this technology on the industry and the environment. This development aligns with the global shift towards green energy solutions and reflects a growing market for such products. Time Techno's diversified product range includes drums, containers, automotive components, HDPE pipes, and more. The approval signifies a significant milestone for the company and reinforces its commitment to advancing in the green energy sector.