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Gail, AM Green forge 350 KTPA e-methanol deal to drive clean energy growth | Mint

LivemintLivemint · 1y ago
Gail, AM Green forge 350 KTPA e-methanol deal to drive clean energy growth | Mint
Medial

- Gail (India) Ltd and AM Green Group have joined forces to develop clean energy projects and supply 350 KTPA of carbon dioxide for e-methanol production. - The partnership aims to advance India's green energy transition and decarbonization efforts. - E-methanol, produced through the combination of green hydrogen and captured carbon dioxide, is a sustainable fuel that reduces carbon emissions in industries like shipping, steel, and cement. - The companies are also exploring solar and wind hybrid renewable projects of up to 2.5 GW across India, ensuring round-the-clock power supply. - Gail will supply the carbon dioxide from its gas processing plants, contributing to a circular economy and promoting sustainable energy solutions.

Hycosys raises seed round led by MountTech Growth Fund’s Kavachh

EntrackrEntrackr · 18d ago
Hycosys raises seed round led by MountTech Growth Fund’s Kavachh
Medial

Snippets Hycosys raises seed round led by MountTech Growth Fund’s Kavachh Deep-tech engineering startup Hycosys has raised over $1 million (approximately Rs 9 crore) in a seed funding round led by MountTech Growth Fund – Kavachh. The Bengaluru-based startup had earlier secured $88.4K in a pre-seed funding round from PointOne Capital in December 2024. The fresh funds will be deployed to strengthen the engineering team, access advanced testing facilities, develop a micro gas turbine (MGT), and demonstrate a working clean energy alternative to diesel-based power generators by mid-2027, Hycosys said in a press release. Co-founded in 2024 by Tapish Agarwal and Ugandhar Reddy, Hycosys is a deep-tech engineering startup building fuel-flexible, low-emission micro gas turbine systems engineered from first principles. The startup is supported by multiple government, VC, and CSR-backed programmes, with a focus on developing hydrogen-ready and clean fuel-flexible micro gas turbines for distributed clean power, mobility, and aerospace applications. As per industry reports, India currently has over 227 GW of installed diesel generator capacity, primarily catering to industrial backup and captive power requirements. Hycosys plans to diversify and integrate its MGT with microgrids, heavy commercial vehicle range extenders, and advanced propulsion units designed for integration with large fixed-wing drones and aircraft. The startup’s innovation includes a hydrogen-optimised combustor, a 3D-printed heat recovery unit, and an advanced turbine design, which are currently being tested at IIT-BHU. This approach significantly improves efficiency while making the MGT up to 30% lighter than existing systems. The startup aims to build scalable, indigenous turbine technologies aligned with India’s long-term decarbonisation and emission reduction goals of meeting 50% of total energy requirements from non-fossil sources by 2030.

Nabhdrishti Aerospace raises pre-seed round led by IIMA Ventures

EntrackrEntrackr · 1y ago
Nabhdrishti Aerospace raises pre-seed round led by IIMA Ventures
Medial

Deeptech startup Nabhdrishti Aerospace has raised Rs 3 crore in its pre-seed round led by IIMA Ventures (Formerly IIMA-CIIE). The proceeds will be used to develop fuel flex combustor prototype via thorough testing on the fuel injector and combustor, the company said in a press release. This will enable the company to showcase the proprietary fuel flex technology. This will be followed by designs within the power range of 300 SHP to 1,000 SHP and above. Founded in 2023 by Rohit Chouhan and Arjun Srivatsa, Nabhdrishti Aerospace will design and develop gas turbine engines, beginning with a 350 SHP turbo-prop engine for aviation and power generation use cases. As per the company, the micro gas turbine (MGT) engines will be developed and manufactured and will feature fuel flexibility to enable clean fuel compatibility and enhanced efficiency. The first product, ND 350, will be a 275 KW Turbogenerator. The same core, when coupled with a propeller, claims to generate 350 SHP that can power UAVs (unmanned aerial vehicle) and hybrid electric VTOLs (vertical take-off and landing). Earlier this month, Bengaluru-based aerospace components manufacturer JJG Aero raised $12 million from CX Partners. In January, Jeh Aerospace raised $2.75 million in a seed funding round led by General Catalyst.

Essar to invest Rs 30,000 cr in green hydrogen plant in Gujarat

YourStoryYourStory · 1y ago
Essar to invest Rs 30,000 cr in green hydrogen plant in Gujarat
Medial

The Essar Group is set to invest Rs 30,000 crore in a green hydrogen plant in Gujarat, as it aims to become a leader in clean energy. The conglomerate is also looking to decarbonize its UK oil refinery and develop a green steel plant in Saudi Arabia. Additionally, Essar plans to enter the mining of critical minerals for use in electric vehicle batteries and renewable energy. The company aims to generate 1 gigawatt of hydrogen capacity and 1 million tonnes of green molecules per year over the next four years. The investment will be used for producing green molecules for export rather than green ammonia. Essar is also expanding its coal-based electricity generation and building a renewable energy platform. Furthermore, the group is working on a liquefied natural gas (LNG) and electric ecosystem for heavy trucks to contribute to a cleaner transportation sector. It currently has a fleet of LNG-powered and electric trucks.

Nabhdrishti Aerospace raises $3 Mn led by Accel

EntrackrEntrackr · 11m ago
Nabhdrishti Aerospace raises $3 Mn led by Accel
Medial

Nabhdrishti Aerospace raises $3 Mn led by Accel Aerospace startup Nabhdrishti Aerospace has raised $3 million (around Rs 25 crore) in a funding round led by Accel, along with participation from IIMA Ventures and its existing investors. The proceeds will be used to boost the development and testing of its engine prototypes, as well as talent acquisition, Nabhdrishti Aerospace said in a press release. Co-founded in 2023 by Chouhan, Arjun Srivatsa, and Antanu Sadhu, Nabhdrishti Aerospace is building small gas turbines that will cater to hybrid urban air mobility, unmanned aerial vehicles (UAVs), and decentralized power generation appliances. The company claims its engine serves a dual purpose — propulsion and power. It can cater to hospitals, heavy vehicles, manufacturing segments, as well as light aircraft, helicopters, and hybrid electric flights. According to the Bengaluru-based company, it is developing cutting-edge technologies designed to run on sustainable fuels, including green hydrogen, to power everything from UAVs to next-generation air mobility platforms. Nabhdrishti Aerospace focuses on building sustainable, indigenous propulsion systems to reduce India’s reliance on imported aerospace technology. It aims to generate early revenue while expanding its team, with new hires expected across engineering, production, and customer support by the end of the year. Over the next few years, the company plans to steadily scale its workforce to support its growing product portfolio and customer base. Other notable startups in this space include Garuda Aerospace, Bellatrix Aerospace, and Agnikul.

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