BPCL share rise as company signs quadripartite MoU

Following Oil PSU's announcement of a collaboration with aerospace firms for the creation of a hydrogen-fuelled vertical takeoff environment, BPCL's shares surge 1.2% higher. The company is entering into a quadripartite Memorandum of Understanding (MoU) with BluJ Aerospace, the Agency for New and Renewable Energy Research and Technology (ANERT), the government of Kerala, and Cochin International Airport (CIAL) to develop the first hydrogen-fueled Vertical Take-off and Landing (VTOL) aircraft ecosystem worldwide.

Designed by BluJ Aerospace, BPCL will set hydrogen refuelling stations (HRS) in Kochi and Trivandrum, hence enabling VTOL aircraft. Furthermore, BPCL will participate in R&D activities targeted at designing and developing an Indigenous Proton Exchange Membrane (PEM) Hydrogen Fuel Cell characterised by high power density to enable vertical lift-off, hence advancing India's hydrogen technological capabilities.

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This historic agreement marks a major step in aviation innovation and corresponds with India's aim of reaching net zero emissions by 2070. By means of green hydrogen-powered VTOL aircraft, the project intends to revolutionise urban and regional air mobility, thereby enhancing speed, lowering noise, and increasing efficiency while significantly lowering carbon emissions.

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