25 Jun 2024

Organic Recycling Systems zooms on entering into Technology Transfer Agreement with CSIR-IIP

Organic Recycling Systems is currently trading at Rs. 258.40, up by 18.90 points or 7.89% from its previous closing of Rs. 239.50 on the BSE.

The scrip opened at Rs. 238.00 and has touched a high and low of Rs. 274.00 and Rs. 238.00 respectively. So far 57000 shares were traded on the counter.

The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 310.00 on 06-Nov-2023 and a 52 week low of Rs. 208.60 on 26-Mar-2024.

Last one week high and low of the scrip stood at Rs. 274.00 and Rs. 238.00 respectively. The current market cap of the company is Rs. 200.14 crore.

The promoters holding in the company stood at 20.35%, while Non-Institutions held 79.65% stake in the company.

In a significant move towards advancing production of Compressed Biogas, Organic Recycling Systems (ORSL) and the Council of Scientific & Industrial Research-Indian Institute of Petroleum (CSIR-IIP) have entered into an Agreement to license and implement the cutting-edge Vacuum Swing Adsorption (VSA) Technology for upgrading raw biogas to compressed biogas (CBG). 

Under this agreement, CSIR-IIP, a premier institute renowned for its expertise in petroleum refining and biofuels, will transfer its indigenously developed VSA Technology to ORSL. This technology is designed to process 350 m3/h of raw biogas, converting it into pipeline-quality bio-methane. The resulting biomethane not only meets the stringent BIS 16087: 2016 specifications ensuring compliance with regulatory standards but can also be further tailored to achieve higher specifications based on the specific needs and requirements of different projects and clients.

Organic Recycling Systems is an engineering company focused on environmental solutions and provides waste management solutions across waste types and across the value chain.