Photo credits: Energy world, ET.
The largest Indian fuel retailer, Indian Oil Corporation(IOC) released a press release about announcing the successful demonstration trials of the hydrogen fuel cell powered bus. The mission was financially accomplished with the help of Department of Scientific and Industrial Research and Ministry of New and Renewable energy. The technical support was provided by Tata Motors.
With the priority of making development across the country in a sustainable manner, this is considered as a huge step to invoke alternatives of renewable format. The IOC- Research and Development wing also informed about their strategies to enter the battery sector with an improved design of Lead-acid battery. Also the research involving development of batteries without lead or lithium-based materials.
After the announcement, IOC and Tata Motors both have recorded increases in their stock values.
All the oil trading enthusiasts should pay attention at this Indian retailer's stand towards the alternative resources.