Companies

MTAR Technologies bags $29.82 m export order from Bloom Energy

Hyderabad | Updated on September 13, 2021

This is the largest single order ever received by the Hyderabad-based company

MTAR Technologies Limited has received an export order for $29.82 million (approximately ₹220 crore) from Bloom Energy, USA.

This order is for export of Yuma Hot Boxes and associated components for Bloom Energy is expected to be delivered over the four quarters of the calendar year 2022.

This is the largest single order ever received by the Hyderabad-based company and demonstrates the customer confidence that MTAR has built over time, it said in a statement.

Also read: Release of export refunds to help apparel sector bag more orders in festive season: Exporters

“This ₹220 crore order will support the growth targets that MTAR has set for itself,” the company informed BSE.

MTAR Technologies is a niche manufacturing service provider in precision engineering and critical assembly of key components and products for various customer segments such as civil nuclear energy, space, defence and aerospace, clean energy and others.

It has revenue from both domestic customers as well as from exports. The tech company was listed recently and is on a growth path driven through diversification of its offerings and expansion of its growing customer base.

Published on September 13, 2021

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