Aether Industries inks license agreement with Saudi Aramco Technologies Company

Aether Industries has inked a license agreement with Saudi Aramco Technologies Company for the commercialisation of the sustainable Converge polyols technology. The agreement formally initiates Aether’s activities towards the manufacturing and commercialization at Aether of the Converge polyols technology and product series, the manufacturing process for which has been previously jointly developed and validated at a pre-commercial scale by Aramco and Aether. The agreement also captures the next set of important milestones.   

The company recently signed a Letter of Intent (LoI) with one of the top 3 leading global oil field services companies based in the USA towards the finalization of a strategic supplier and contract manufacturing partnership. The LoI paves the way for the execution of a Strategic Supply Agreement (SSA) between the two companies within 3 months of the LoI execution. The LoI specifies 4 strategic products of the new customer that will be contract manufactured by Aether as the first set of products in this new partnership. The individual volumes of these 4 products are also specified in the LoI, and a total of 1,325 MT per month (i.e., 16 KTA or 16,000 MT per year). And these products will be supplied to the global energy and oil and gas locations of the customer, including a significant supply within India. 

Aether Industries is a speciality chemicals manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies. 

Today, the stock opened at Rs 1020.15, with a high and low of Rs 1055.95 and Rs 1000. The stock closed trading at Rs 1009.10, up by 2.76%. The stock has a 52-week high of Rs 1055.95 and a 52-week low of Rs 736. The company has a ROCE of 18.4% and an ROE of 15.9% with a market capitalisation of Rs 12,570 crore