Adani Total Gas signs pact with Shigan to decarbonise supply chain

Adani Total Gas, an arm of the billionaire Gautam Adani-led Adani group, has inked a memorandum of understanding (MoU) with Shigan Quantum Technologies Limited, an alternative fuel-system provider for automotive, locomotive and stationary engine applications, in a bid to decarbonise supply chains.

The primary focus of both the partners will be on “adopting natural gas for transportation and mining applications through sustainable solutions for fleet operators, including those deployed by Adani Group companies in sectors like cement, ports and logistics”, the companies said in a statement on January 3.

Shigan, founded in 2005, has a portfolio of technologies including hybrid electric drive systems, hydrogen storage and meeting systems and alternative fuel technologies that enable fuel efficient, low emission, hybrid, plug-in hybrid electric, fuel cell and alternative fuel rail, according to the company’s website.

The fuel-system provider also has Tata and Mahindra group entities as its customers.

Under its agreement with Adani Total Gas, traditional ICE (internal combustion engine) vehicles will be retrofitted to run on CNG or LNG fuels.  The partnership will also focus on developing e-mobility based solutions for last mile delivery players and use cases for green hydrogen as fuel for ICE  vehicles, according to the statement.

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In the trading session today, Adani Total Gas’ scrip settled at Rs 1,100.95 apiece on the National Stock Exchange (NSE), 10 percent higher as against the previous day’s close.