8th Mar 2021 21:56
Tirupati Graphite PLC - graphite and graphene producer in Madagascar and India - Says it has been advancing hydropower strategy targeted to meet 100% of the power requirements for the Sahamamy and Vatomina Madagascan projects. Developing initial 100 kilowatt hydropower facility at Sahamamy resulting in an estimated ongoing saving of 10% in the operating cost per tonne of output and a 50% reduction in carbon emissions. Accelerating further studies and detailed planning on the back of earlier conducted pre-feasibility studies for additional 900 kilowatt hydropower capacity prospects to provide 100% renewable power generation for the next two production modules.
Chief Executive Officer Shishir Poddar says: "We remain focused on delivering eco-friendly operations, and being a green source in the supply chain for EVs and other green applications. Our hydropower renewable energy initiatives are part of this strategy, which will help us reduce our carbon footprint by almost 50% and also result in cost savings.
"Additionally, given the strong demand for our product, we are excited to have accelerated the development of our primary flake graphite operations in Madagascar to an initial 12,000 tpa in Q2 2021. We are on track to commission the 9,000 tpa plant in Vatomina which will enable us to fast-track the development of markets for our three business units in this opportune time of strong and growing demand for our products, besides enhancing our significance in the global ex-China graphite markets."
Current stock price: 94.59 pence
Year-to-date change: up 41%
By Arvind Bhunjun; [email protected]
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