TIL Limited makes clean energy foray with 60% stake in Tulip Compression

TCPL is expected to benefit from backward integration through TIL’s manufacturing infrastructure.

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Heavy equipment manufacturer TIL Limited has approved the acquisition of a 60 per cent stake in Tulip Compression Private Limited, marking its entry into the clean-energy manufacturing segment.

The deal is subject to shareholder and regulatory approvals. TIL will acquire the stake from its affiliate, Gainwell Commosales Private Limited, with an option to increase its holding to 74 per cent.

The acquisition gives TIL access to manufacturing of LNG and hydrogen powerpacks for its material-handling equipment, along with capability in cryogenic LNG storage tanks, oil and gas process vessels and skids.Sunil Kumar Chaturvedi, Chairman and Managing Director, TIL Limited, said, “Tulip’s acquisition is a force multiplier in TIL 2.0 as it widens our product range and strengthens our presence across oil and gas and transportation sectors. This will accelerate our endeavour to decarbonise TIL’s current and upcoming products.”TCPL, which assembles CNG, LNG and hydrogen equipment, is expected to benefit from backward integration through TIL’s manufacturing infrastructure.

Raj Kumar Sachdeva, Director, TCPL, said, “This integration empowers us to control our entire value chain, enabling faster product development cycles and superior quality. As India accelerates its transition to clean energy, we are now uniquely positioned to lead in hydrogen compression systems and LNG solutions”.