TIL Limited a key player in India’s material handling and infrastructure equipment manufacturing sector, has entered the clean energy manufacturing space with its Board approving the acquisition of a 60 per cent stake in Tulip Compression Private Limited (TCPL), a fast-growing clean energy solutions provider. The acquisition is subject to shareholder and regulatory approvals, as applicable.

TIL will acquire TCPL from its affiliate, Gainwell Commosales Private Limited (GCPL), with an option to increase its stake to 74 per cent. The investment expands TIL’s product portfolio by providing access to LNG and hydrogen powerpacks for material handling equipment, along with specialised manufacturing capabilities for large-scale cryogenic LNG storage tanks, oil and gas process vessels, and skids.

Simultaneously, TCPL’s CNG, LNG and hydrogen equipment packaging and assembly business will benefit from backward integration with TIL’s in-house manufacturing capabilities and infrastructure. This integration is expected to enhance production control, improve quality assurance and strengthen competitiveness for both companies.

TIL brings over eight decades of manufacturing expertise and operates two certified facilities in Eastern India—a mobile crane manufacturing facility in Kamarhati, Kolkata, and a 150-acre integrated manufacturing facility in Kharagpur. The integration enables TCPL to internalise production of high-end fabrication assemblies that were previously externally sourced, ensuring improved control over quality and timely availability of key components while supporting its growth plans.

Commenting on the acquisition, Sunil Kumar Chaturvedi, Chairman & 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. Tulip unfolds new energy and cryogenic product markets for TIL in India and beyond. The two companies have tremendous synergies that would multiply growth. We are happy to welcome Tulip into our fold.”

Alok Kumar Tripathi, President & Whole Time Director, TIL Limited, added, “We are happy that with TCPL’s acquisition, we are diversifying our product portfolio in line with our goal of offering complete engineering solutions. We will expand our portfolio into LNG and hydrogen powerpacks, cryogenic storage, and advanced oil and gas solutions, while strengthening backward integration, leading to larger control of the value chain. This assimilation will unlock powerful synergies that accelerate growth, enhance competitiveness, and advance our entry into new energy markets in India and beyond.”

Raj Kumar Sachdeva, Director, TCPL, said, “TIL's eight decades of heavy engineering excellence and precision manufacturing infrastructure will be transformative for our product development roadmap. 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. Together, we will establish ourselves as India’s leading end-to-end clean energy solutions provider, delivering cutting-edge technology backed by proven reliability and energy efficiency.”

Headquartered in Delhi, TCPL operates two manufacturing facilities in Greater Noida and has established a strong presence across India. Its recent innovations include the Composite CNG Dispensing Unit (CCDU), hydrogen compression systems, and the Freespin® Inline Turboexpander (FIT) for clean energy recovery, developed in partnership with Sapphire Technologies, USA.

TCPL has delivered over 600 online CNG compressors to India’s City Gas Distribution (CGD) industry, serving major public and private sector entities. In response to robust demand for CNG equipment to meet the minimum work programme of the Petroleum and Natural Gas Regulatory Board (PNGRB), the company plans to produce more than 200 compressor packages annually.