Gujarat Inject Kerala Limited has entered into a Strategic Business Partnership Agreement with Storenergy Limited, a company incorporated in England. The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Nature of Agreement
The agreement constitutes a strategic business partnership/framework agreement between the two entities.
Purpose and Key Terms
The primary purpose of the agreement is to collaborate for evaluation, development, and pursuit of Thermal Energy Storage System (TESS) opportunities in India. The key terms specifically state collaboration for evaluation, development and pursuit of TESS opportunities in India.
Commercial Terms
Consideration and commercial terms have not been finalized and will be decided at a later stage.
Related Party Transaction
The company explicitly states that this transaction is not a related party transaction.
Expected Business Impact
The arrangement is expected to facilitate the company's participation in the TESS business and related opportunities in the Indian market.
Additional Information
No other significant terms beyond the collaboration for TESS opportunities were disclosed in the annexure.