Tata Steel and Australia's Monash University sign MoU to set up sustainability-focused Centre for Innovation

Mumbai, June 13, 2024

~ Centre will focus on decarbonisation, resource recovery from sustainable sources, and technologies towards smart manufacturing ~

~ Will provide educational and professional opportunities for students and academia, and foster the exchange of knowledge and talent between India and Australia ~

Tata Steel and Australia’s Monash University have signed a Memorandum of Understanding (MoU) to set up a Centre for Innovation on Environment and Intelligent Manufacturing to collaborate on contemporary global challenges such as decarbonisation, resource recovery from sustainable sources, and technologies for advanced, additive, and data-driven manufacturing. The MoU is a milestone that marks the beginning of the first major research and development collaboration of Tata Steel with an Australian institution.

The collaboration will provide educational and professional opportunities for students and academia, fostering the exchange of knowledge and talent between India and Australia. On a broader scale, this partnership will help the Australian innovation ecosystem build stronger ties with India.

T. V. Narendran, CEO & Managing Director, Tata Steel, said: “As the second largest steel-producing country in the world, India’s role in the global steel industry has gained considerable traction not only in terms of volume and quality but also how we manufacture the world’s favourite alloy. As the oldest steel maker in India, Tata Steel has taken upon itself the responsibility of leading the change towards more sustainable manufacturing practices. Today, we are building a comprehensive ecosystem that involves partners from academia and the world of startups. Our agreement with Monash University, an institute with an impressive reputation in material science and the ability to scale research into market-ready solutions, is an addition to this ecosystem. We look forward to a fruitful partnership that opens new business opportunities and drives technological advancements for the benefit of our people and the planet.”

Professor Doron Ben-Meir, Deputy Vice-Chancellor (Enterprise and Engagement) and Senior Vice-President, Monash University, said:"We are pleased to collaborate with Tata Steel to advance material science and chemical process research. Working with a global industry partner of this stature is an important step to driving the development of vital materials and technologies. The collaboration will draw upon Monash University's world-renowned expertise in industry-facing research and scale-up.”

Professor Mainak Majumder of the Faculty of Engineering and Director of the ARC Research Hub for Advanced Manufacturing with 2D Materials (AM2D), said:“The Centre for Innovation is aligned strategically with our mission of thinking locally, but acting globally, as we strive to create impact for Australian-born science and technology.”

As part of its decarbonisation journey, Tata Steel is seeking innovative ways to achieve its sustainability goals through continuous experimentation, investments in research, technological innovations, and collaborations with various academia, startups, and other reputed organisations. The Company recently signed MoUs with Imperial College London and The Henry Royce Institute to set up Centres of Innovation in the UK focussing on sustainable design and manufacturing, and advanced materials.

Disclaimer

Statements in this press release describing the Company’s performance may be “forward-looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.

For queries and information

Sarvesh Kumar,
Chief Corporate Communications, Tata Steel,
E-mail : sarvesh.kumar@tatasteel.com

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.
It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.
The group recorded a consolidated turnover of around US$27.7 billion in the financial year ending March 31, 2024.
A Great Place to Work-Certified^TMorganisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045.
The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
Tata Steel aspires to have 20% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteel^TM Subsequently, its Kalinganagar and Meramandali plants have also received the certification. In India, Tata Steel now has more than 90% of its steel production from ResponsibleSteel^TM certified sites.
Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, Ranked as the 2023 most valuable Mining and Metals brand in India by Brand Finance, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, and ‘Best Corporate for Promotion of Sports’ recognition at the Sportstar Aces Awards 2024.
Received 2023 ERM (Enterprise Risk Management) Award of Distinction at the RIMS ERM Conference 2023, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.