Va Tech Wabag stock spikes 11% to hit six-week high on partnership with Pani Energy
Va Tech Wabag rose sharply in Tuesday's session, gaining 11% to hit a six-week high of ₹495 apiece. This surge followed an announcement by the company that it has entered into a partnership with Pani Energy Inc. (Pani) to implement applied AI solutions for treatment plants.
"VA Tech WABAG has partnered with Pani Energy Inc. to implement applied AI for treatment plants. The new category of digital technology is called Operational Intelligence (OI) and delivered through their product, Pani ZEDTM, in plant operations," the company said in an exchange filing on Monday.
"The partnership aims to leverage Pani’s platform to optimize on OPEX in the plants by reducing downtime, energy consumption, and chemical usage. Additionally, it will expedite crucial decision-making processes and enhance the longevity of critical equipment," the company added. Shailesh Kumar, CEO-India Cluster at WABAG, expressed his excitement about the partnership, stating, “WABAG has always been a frontrunner in terms of innovation and implementing advanced technologies in the plants." "We are excited about this collaboration with Pani Energy.
The operational intelligence platform, powered by plant-specific models, artificial intelligence, and digital twins, will enable us to integrate world-class technology into our operations, significantly optimizing our water treatment processes. This aligns perfectly with our digitalization initiative and reinforces our commitment to providing sustainable solutions for a better life." Va Tech Wabag is a pure-play water technology multinational offering a complete range of technologies and services for Total Water Solutions in both the municipal and industrial sectors. Earlier in September, the company signed a
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