Hyderabad (Telangana) [India], September 7 (ANI): The MC² Plus energy innovation accelerator, envisioned by the Ministry of Petroleum and Natural Gas (MoPNG), aims to support 30 early-stage startups with funding, mentorship, technical expertise and opportunities to pilot their technologies with the energy industry, according to a press release issued on Monday.
Selected startups will be eligible for convertible funding of up to Rs 50 lakh and milestone-based funding of up to Rs 1.5 crore, the release said.
“The programme aims to support 30 high-potential early-stage start-ups through mentorship, technical expertise, pilot opportunities, funding and industry networks,” the press release said.
MC² Plus brings together energy companies, startups, research institutions and academia, with GAIL (India) Limited and Petronet LNG Limited among the participating energy-sector organisations.
Sandeep Maheshwari, CEO of MC² Foundation, said the programme focuses on seven areas, including digital asset management, AI-driven subsurface intelligence, next-generation drilling and well completion, refinery process technology, compressed biogas, hydrogen and mobility.
The latest MC² Plus IGNITE Connect was held at IIT Hyderabad in association with the institute’s iTIC Incubator, with the Hyderabad edition focusing on digital asset management.
GAIL Chairman and Managing Director Deepak Gupta said the programme is intended to help move technologies beyond the research stage and towards commercial use.
“The initiative seeks to bring together startups, academia, research institutions and the Oil & Gas industry on a common platform, enabling ideas to move from the laboratory to prototype, pilot, deployment and scale,” Gupta said, according to the release.
He said the sector needs greater use of artificial intelligence, machine learning, advanced analytics, sensors, robotics, drones and digital twins to improve the management of energy infrastructure.
Petronet LNG Managing Director and CEO Akshay Kumar Singh also highlighted potential areas where startups could work with the LNG industry, including the commercial use of cold energy generated during the regasification process.
The release said such cold energy could potentially be used in sectors including data centres, cold storage and air separation units. Singh also pointed to scope for improving compressed biogas yields and developing value-added by-products that could help reduce imports.
“MC²+ Ignite [is] connecting India’s energy industry with the startup and innovation ecosystem, with a focus on leveraging digital technologies such as AI, advanced sensors, robotics and digital twins to make LNG infrastructure smarter, safer, more reliable and efficient,” Singh said.
The programme is aimed at helping startups test and scale technologies that address operational challenges across India’s energy sector, according to the release. (ANI)
MoPNG-backed programme to support 30 energy startups with funding, pilot opportunities
