On June 9, Aether Industries stock increased 7% in early trade, touching a 52-week high of Rs 1,055.95 on BSE after it inked a licence contract with Saudi Aramco Technologies.

The agreement lawfully initiates Aether’s activities towards the business and commercialisation of the converge polyols technology and product series; the manufacturing process was jointly developed and authenticated at a pre-commercial scale by Aramco and Aether.

The director and promoter of Aether Industries mentioned that they are excited to collaborate with Saudi Aramco Technologies to step forward with commercialising converged polyols. After working collaboratively for years towards the manufacturing technology expansion for the Converge platform, they are glad to commercialise the converge polyols.

The Converge platform signifies a novel and cutting-edge expertise for manufacturing more sustainable polyols containing up to 40% by weight carbon dioxide.

On June 7, the company signed a Letter of Intent (LoI) with one of the top 3 global oil field services in the US to finalise a strategic supplier and contract manufacturing partnership.

At 9:26 am, Aether Industries trades Rs 1,036.15, up Rs 54.15, or 5.51%, on the BSE.