INOXCVA signs MoU with Mitsui - Partnership will enhance small scale LNG applications development and provide impetus to gas based economy in the country

MUMBAI, India, April 12, 2021 /PRNewswire/ -- Indian multinational and one of the world's leading Cryogenic Liquid Storage, Distribution and Re-Gas solutions provider, INOXCVA today announced that it has signed a Memorandum of Understanding with leading Japanese conglomerate Mitsui & Co. (Asia Pacific) Pte. Ltd. (Mitsui) for partnering by sharing technical and commercial expertise for further establishing a virtual pipeline to service the growing demand of LNG in India. The MoU entails deployment of small scale LNG infrastructure including logistics and receiving facilities at customer end and will offer LNG access to the customers not connected to the pipelines. This will help in increasing the penetration and consumption of clean, reliable and cost-efficient LNG to various users in the automotive, mining, shipping & rail industry all over the country.

The collaboration with INOXCVA and Mitsui, a diverse conglomerate engaged in energy business globally with presence in energy value chain, including renewable and new energy, will look to capitalize the experience of both the organizations for investigating and establishing small scale energy businesses and projects in mutually agreed geographic locations, thereby making the cleaner fuel more accessible and economically viable.

Talking about the MoU, Siddharth Jain, Executive Director, INOXCVA said, ''Increasing the use of LNG in the progressive and evergreen domains of manufacturing and transport is a priority for our Government, which underlines the benefits of LNG. Our partnership with Mitsui, shows our innovativeness and futuristic approach along with our commitment to the country's vision of gas-based economy, which is self-reliant in all aspects, including energy. LNG is not only a clean and cost-effective fuel, but is also safe and reliable. We are delighted that our collaborated efforts with an adept partner like Mitsui will make this green fuel more accessible. A larger gas-based industrial ecosystem is a win-win situation for all stakeholders.'' Speaking on the occasion, Kaoru Umehara, Divisional Operating Officer, Mitsui added, ''In partnership with INOXCVA we look forward to exploring how we can play a key role in meeting India's long-term need for cleaner energy. Together we will carry out technical, economic and environmental evaluations for supplying LNG to prospective customers and industrial clusters. We believe our combined expertise will synergize well to bring the benefits of LNG at regional and national levels, and create a sustainable manufacturing ecosystem.'' As a market leader, INOXCVA is known for its innovative and future-ready solutions for small scale LNG applications. Since the commissioning its first small scale LNG installation at the Halol Plant of General Motors in year 2010, INOXCVA has successfully installed more than 35 such facilities across the country. LNG facilities are supported by INOXCVA's own tanker fleet under its brand 'GoLNG' which have collectively logged more than 6.5 Million KMs and distributed ~100,000 Metric Tonnes of LNG to its consumers spread all over the country propagating the use of LNG as a clean and environment-friendly source of energy. INOXCVA's contribution in the global market for developing LNG as a fuel for Mining Trucks, Marine Engines, Rail Engines is well acknowledged.

About INOX India Pvt. Ltd. (INOXCVA) INOX India Pvt. Ltd (INOXCVA) is one of the largest manufacturers of Cryogenic Storage, Re-gas and Distribution Systems for LNG, Industrial Gases and Cryo-Scientific applications with operations in India, Brazil & Europe. The Company has an extensive user base, spread across more than 100 countries and is serviced by a network of after-sales support associates in 25 countries. The company is leading India's efforts to use LNG for industrial and automotive use. The Company's key strength lies in design engineering, manufacturing, supply and commissioning of Cryogenic turnkey packaged systems with reputation and a vision to deliver a significantly higher value to its consumers. For more information, please visit www.inoxcva.com Photo: https://mma.prnewswire.com/media/1485601/INOXCVA_and_Mitsui_MoU.jpg PWR PWR

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)