Waaree Clean Energy Solutions, a wholly owned subsidiary of Waaree Energies Limited, announced its entry into India's specialty gases business. The company aims to be a one-stop supplier to the country's semiconductor and solar cell manufacturers.
Speaking to NDTV Profit, Anuj Sharma, CEO, Waaree Clean Energy Solutions said that specialty gases was a natural extension it the company's deep-tech manufacturing and clean energy expertise.
He informed that the company will look at extending partnerships in specialty gases but also has the technical capability for the manufacturing of these gases.
The company is already engaged with the various potential customers and is at different stages of discussions with them for the supply of specialty gases.
Sharma expects the demand for specialty gases to grow multifold as he believes semiconductor and solar cell manufacturing cannot scale in India without a reliable, high-purity gas and chemical supply chain alongside it.
The company is building a specialty gases plant at GIDC Saykha, Dahej, Gujarat, to close that gap with domestic supply across India. It is also establishing electrolyser manufacturing unit in Valsad.
He added that the company was “quite well-funded” from parent for the new unit, and they are engaged with potential customers for supply management.
Sharma expects gasses storage to be operational from next quarter.
At 12:45 PM, Waaree Energies share price was trading 0.42% higher at Rs 2,492.50 apiece on the NSE.
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