Thermax Share Price Gains Over 2%; Signs MoU with HPCL to Boost Sustainable Energy Solutions

Thermax Limited and Hindustan Petroleum Corporation Limited (HPCL) have entered a Memorandum of Understanding (MoU) aimed at accelerating indigenous sustainable energy technologies, announced during India Energy Week 2026 in Goa. 

Key Areas of Collaboration Under the MoU 

The agreement focuses on exchange of scientific information, joint research and demonstration of HP AEM electrolysers, CO₂ capture solutions and bio‑pyrolysis oil processing.  

Both parties will work together to scale these technologies across India’s energy landscape, supporting the Make in India vision and national climate goals. 

Thermax’s Capabilities and Infrastructure 

Thermax operates 16 manufacturing facilities across India, Europe and Southeast Asia and manages more than 45 subsidiaries. Its portfolio spans clean air, clean energy, clean water and chemical solutions, backed by engineering, digital and maintenance services that convert costs into profits while protecting the environment. 

HPCL’s Network and Assets 

HPCL runs two oil refineries on the East and West coasts and holds stakes in joint‑venture refineries. The company’s marketing network includes 24,572 retail outlets and 6,389 LPG distributorships.  

Infrastructure assets comprise 80 POL depots, 2 LPG import facilities, 55 LPG bottling plants, 59 aviation fuel stations and 5,440 km of pipelines. Additional projects feature a 5 MMTPA LNG storage and regasification terminal at Chhara, Gujarat, and plans for CGD networks in 25 regions. 

Read More: HPCL, Castrol India Sign MoU to Develop Re-Refined Base Oil Ecosystem in India! 

Strategic Significance of the Partnership 

Combining Thermax’s technology expertise with HPCL’s R&D, operational scale and extensive distribution network is expected to speed up the deployment of green hydrogen, carbon capture and bio‑based fuels. The collaboration aligns with India’s energy transition agenda and aims to move innovations from laboratory to field implementation. 

Thermax Share Price Performance  

As of January 30, 2026, at 11:25 AM, Thermax share price on NSE was trading at ₹2,855.00 up by 2.14% from the previous closing price. 

Conclusion 

The MoU between Thermax and HPCL formalises a joint effort to develop and deploy sustainable energy solutions across multiple sectors, leveraging each company’s strengths and existing infrastructure. 

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