Aether Industries signs licensing agreement with Saudi Aramco Technologies

On Friday, specialty and fine chemical manufacturer Aether Industries said it signed a licence agreement with Saudi Aramco Technologies Company to commercialize the sustainable converge polyols technology.

"We are pleased to have been chosen to commercialize the converge polyols after working collaboratively for several years on the development of the manufacturing technology for the converge platform," Aether Industries promoter and director Aman Desai said in a statement. The converged platform is a cutting-edge technology for producing more sustainable polyols with up to 40 per cent carbon dioxide by weight.

"This is a distinct series of polyols with promising applications in the field of CASE (coatings, adhesives, sealants and elastomers). These novel polyols have significant commercialisation and revenue potential. In addition, the CASE polyol market size is more than 10,000 KTA, representing these novel polyols' commercialisation and revenue potential. They are targeted for 850 KTA (850,000 MT per year) with a CAGR of 5 per cent," Desai added.

TRENDING NOW

Vande Bharat Sleeper Train interior design images out - Check launch date and other details

Suzlon shares hit new 52-week high

Sebi to introduce centralised mechanism for verification in case of demise of investors from January 1

RVNL, Titagarh Systems, Raymonds: Stocks to watch out for on Wednesday

CCI approves Kedaara Capital Fund's acquisition of 1.74% equity stake in Lenskart, also clears acquistion of majority stake in Indira IVF by Zonnebaars

ICC World Cup 2023 Opening Ceremony: Event called off, or still on? Here's all we know

Competition Commission of India approves proposed acquisition of Lanco Amarkantak Power Limited

Google Pixel 8 launch event live streaming: When and where to watch, check date and timing details

Amazon begins Kickstarter sale ahead of Great Indian Festival: 5 top smartphone deals offering upto 50% off

Top-5 mutual funds that have given the highest returns year to date

ICC World Cup 2023: Disney+ Hotstar introduces MaxView feature to stream matches in vertical mode - Details

AMFI rejig: IRFC, Polycab and Jio Financial Services among others may enter large-cap category, says Nuvama

Canada not looking to escalate situation with India, will continue to "engage responsibly": Justin Trudeau

Google Pixel 8 Launch 2023: Check date, time, expected new features, and price

Maruti Suzuki production dips 1% in September

This agreement marks the beginning of Aether's activities towards manufacturing and commercialising converge polyols technologies. "The converge platform has the potential to reduce carbon footprint compared to industry standard polyols, and this license agreement intends to build on previous collaborative work to find performance-enhancing and sustainable alternatives in the CASE industry," Saudi Aramco Technologies Company chief executive officer Abdullah S Dhuwaihi added.

Also Read: Aether Industries signs licensing agreement with Saudi Aramco Technologies