Gilbarco Veeder-Root, A Vontier Company, Secures $59 Million HPCL Tenders

Tender secured for dispensers, submersible pumps and services support HPCL and India’s ambitious infrastructure, modernization and decarbonization goals

RALEIGH, N.C.--(BUSINESS WIRE)--Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, announced today that Gilbarco Veeder-Root, a Vontier company and the worldwide technology leader for retail and commercial fueling operations, has secured two tenders worth a combined $59 million from Hindustan Petroleum Corporation Ltd. (HPCL). The tenders include $39 million for above-ground dispensers combined with eight years of service support, and $20 million for underground submersible turbine pumps, to be delivered across HPCL’s retail outlets throughout India over the next 18 months.

“We are proud to partner with HPCL to support India’s strong growth and its ambitious infrastructure, modernization and decarbonization goals,” said Viswanath Devarajan, Managing Director, Gilbarco Veeder-Root India. “These projects are also a perfect example of India’s multi-energy future, as they include our latest technologies supporting biofuels to meet India’s strong decarbonization goals. Together, we are shaping a new sustainable energy landscape for India.”

Under the agreement, Gilbarco Veeder-Root will provide critical products and services to support India’s growing road network and infrastructure, which has expanded by nearly 60% in only nine years. The country’s 2030 decarbonization goal and COP26 commitments include decarbonizing energy to 50% and achieving 500 GW of fossil fuel-free generating capacity by 2030.

Gilbarco Veeder-Root has been present in India since 1955, and the company has been a preferred supplier of HPCL for more than 50 years. The company’s main manufacturing facility in Coimbatore produces retail and commercial fueling solutions for India and the world. Invenco by GVR, another Vontier company, also recently opened a software development center in Bengaluru for the company’s growing global and India software needs, further demonstrating its commitment and long-term investments in India.

About HPCL:

Hindustan Petroleum Corporation Limited (HPCL) formed in 1974, is a Maharatna Public Sector Enterprise. Committed to delivering a bouquet of energy solutions, HPCL has been at the forefront of innovation and sustainability, making a significant impact on society and the environment.

About Vontier:

Vontier (NYSE: VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company’s website at www.vontier.com.

About Gilbarco Veeder-Root:

Gilbarco Veeder-Root, a Vontier company, is the worldwide technology leader for retail and commercial fueling operations, offering the broadest range of integrated solutions from the forecourt to the convenience store and head office. For over 150 years, Gilbarco has earned the trust of its customers by providing long-term partnership, uncompromising support, and proven reliability. Major product lines include fuel dispensers, tank gauges and fleet management systems. For more information, please visit: www.gilbarco.com.

Contacts

Media Relations contact:
Marty Hanna, Vice President, Communications
Vontier Corporation
Martin.hanna@vontier.com

Investor Relations contact:
Ryan Edelman, Vice President, Investor Relations
Vontier Corporation
Ryan.edelman@vontier.com

First published on Thu, Aug 22, 2024

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Gilbarco Veeder-Root HPCL India Fueling Dispensers Submersible Pumps Infrastructure Modernization Decarbonization Biofuels Sustainability

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