NIBE enters into licensing agreement with DRDO

For use of technology of Solar Heated Shelters developed by DRDO

NIBE has entered into licensing agreement with Director, Defence Institute of Physiology and Allied Services (DIPAS), Delhi a constituent laboratory under Defence Research and Development Organization (DRDO) and Director, Industry Interface and Technology Management (DIITM) for transfer of technology of Solar Heated Shelters which has been developed by DRDO during the course of its research activities. This agreement is effective from 20 February 2024.

Key terms of the agreement-

- DRDO grants a non-exclusive license for 10 years from date of its execution to utilize the technology for manufacture of Solar Heated Shelters in India and for sale in licensing region.

- The Company will pay royalty for Technology transfer to DRDO as may be mutually decided between both the parties

- The product developed by DRDO and manufactured, marketed by the Company shall have marking, Product Developed by DRDO or words to this effect.

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