Shares of Bharat Petroleum Corporation (BPCL) were trading in the green and 1% higher on 19 March after the company announced partnering up with different companies for projects.
BPCL partners with ANERT, BluJ Aerospace, and CIAL
The company has signed a quadripartite Memorandum of Understanding (MoU) with BluJ Aerospace, the Government of Kerala, the Agency for New and Renewable Energy Research and Technology (ANERT), and Cochin International Airport Limited (CIAL) to establish the first hydrogen-fueled vertical take-off and landing (VTOL) aircraft ecosystem in the world.
As part of its essential function, BPCL will install hydrogen refuelling stations for VTOL aircraft developed by BluJ Aerospace through its future Hydrogen Refueling Stations (HRS) in Kochi and Trivandrum.
BPCL partnership with KPIT Technologies
The company has inked a memorandum of understanding with KPIT Technologies to assist hydrogen-based mobility projects in Kerala. This effort, which is part of the National Green Hydrogen Mission, involves building Hydrogen Refueling Stations (HRS) in both cities to support trial mobility initiatives between Kochi and Trivandrum and to clear the path for safe and sustainable hydrogen-powered public transportation.
BPCL launches “Emerge” cohort
Additionally, the company launched the ‘Emerge’ cohort under the BPCL Ankur Fund to support companies in the city gas distribution (CGD) and energy efficiency sectors.
Through the launch of the ‘Emerge’ cohort, BPCL intends to use its ‘BPCL Ankur Fund’ to invest in startups that have developed a Proof of Concept (PoC), prototype, Minimum Viable Product (MVP), or fully functional solution in the oil and gas sector, or any other industry, and are now ready to enter the market.
Launched in 2016, BPCL’s “Ankur” startup initiative has provided 30 firms with incentives totalling around Rs 28 crores.
At 1:48 pm, the shares of BPCL were trading 1.11% higher at Rs 265.09 on NSE.
Stay Ahead with Bharat Petroleum Corporation Ltd. Ask the Analyst.
Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!
