Olectra Greentech has made a deal with Reliance Industries as they are planning to boost the development of hydrogen-powered buses. These buses will reduce carbon pollution and will make a potential public transport in the future.
Olectra’s New Initiative
Olectra has planned to introduce hydrogen-powered public transport buses to reduce the depletion of natural resources. The negative impacts of the pollutants from carbon-based fuel vehicles have caused severe damage to the environment.
Olectra Ties Bond with Reliance
Olectra has shaken hands with Reliance in order to enhance the production of hydrogen buses. The company’s partnership with Reliance will accelerate the production of hydrogen buses and transform public transport to a great extent. The production will begin soon and the company has estimated to launch the public transportation services within a year.
Olectra Greentech Deal with Reliance Pvt. Ltd.
Hydrogen Bus Detail
The hydrogen bus will run for 400 kilometers in a single fill. Hydrogen for this coverage takes up to 15 minutes. The bus measures 12 meters in length and can comfortably fit 32-49 passengers excluding the driver.
Type-4 hydrogen cylinders are installed on the roof of the bus. The hydrogen cylinders can withstand pressure ranging between -20 degrees to 85 degrees (in Celsius). Now, coming to the emission part, the bus only generates water as a tail-pipe emission. This unique technology will eliminate the use of petrol and diesel buses.
Olectra’s Share Price Hike
Olectra’s share prices sky-rocketed after they announced the confirmation of their deal with Reliance. The company touched its all-time high of Rs 477 after the deal on February 24. Olectra Greentech touched Rs. 473.90 (increased by Rs 71.85, 17.87 percent) just after their announcement.