"Thermax Makes Significant Investment in Renewable Energies and Clean Solutions"

In a strategic move towards sustainable growth, Thermax Ltd is intensifying its commitment to green and renewable energies, along with cleaner technologies for its traditional boiler business. Managing Director Ashish Bhandari reveals a substantial increase in investment in research and development (R&D), aiming to elevate R&D spending to approximately 2% of revenue, a significant jump from the current level of less than 1%. The R&D efforts, presently dispersed across various business segments, will undergo consolidation.

The company recently unveiled its groundbreaking solutions at Thermax Fest in Pune, showcasing its dedication to innovation in the field. Thermax Ltd has already secured orders exceeding ₹500 crores for the establishment of five bio-CNG plants. Looking ahead, the company has ambitious plans to deploy 1 gigawatt (GW) of hybrid renewable energy solutions within the next three years.

This strategic shift underscores Thermax's proactive approach to not only adapt to the evolving energy landscape but also to play a leading role in shaping a sustainable and cleaner future. The company's focus on renewable energies and cleaner technologies positions it at the forefront of the transition towards a more environmentally conscious and responsible industrial sector.

HBL