MTAR Technologies receives its largest order, placed by Bloom Energy
- September 14, 2021
Hyderabad-based MTAR Technologies has landed its largest-ever order, the company said in a stock exchange filing.
The order, valued at $29.82 million (around Rs.220 crore) was placed by US-based Bloom Energy. The export order is for “Yuma Hot Boxes” and associated components to be supplied over the four quarters of calendar year 2022.
“This is the largest single order ever received by MTAR and demonstrates the customer confidence that MTAR has built over time. This order will clearly support the growth targets that MTAR has set for itself,” the stock exchange filing said.
According to information available from MTAR’s corporate website, the company has been a longstanding supplier of such “hot boxes” to Bloom Energy. Hot boxes are used to convert methane into power.
It is also learnt that MTAR Technologies is developing technology for manufacture of hydrogen boxes and electrolyzers. Hydrogen boxes will be used to generate hydrogen from methane. This hydrogen, in turn, will be used to generate power through electrolyzers. In addition, these electrolyzers will produce methane-free hydrogen that will be used to generate electricity.
In the field of clean energy, MTAR Technologies is also a supplier of shafts to ANDRITZ Group, to be used in hydropower generation.
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Bloom Energy is primarily engaged in the production of “Energy Servers” that are regarded as low-cost and low greenhouse gas emitting sources of generating electricity.
(Featured photograph for illustration only)