AHODS Technologies To Get Funds From IOCL To Push New-Age Clean Fuel Through Hydrogen Technology
The Startup has been incubated by FITT at IIT Delhi and has been selected by IOCL for funding to help pilot and commercialize AHODS patented hydrogen technology, Hydrogen on Demand'
AHODS Technologies, a hydrogen fuel-based startup, has been selected for funding by the government-run oil marketing company Indian Oil Corporation Ltd (IOCL) to push a new-age clean fuel through hydrogen technology. The Delhi-based startup was incubated by the Foundation for Innovation and Technology Transfer (FITT) at Delhi. It recently signed a memorandum of agreement with IOCL to commercialize its patented hydrogen technology, 'Hydrogen on Demand'. IOCL would fund the startup to make a social and climate impact.
"India is the third largest consumer of oil with industry and transport comprising 60 per cent of use. Rising air pollution and climate change with uncertain fuel prices are major threats to the socio-economic and energy security of the country. Now countries like Japan, Australia, Norway, Germany and South Korea are investing billions of dollars. There are only 15,000 to 20,000 hydrogen vehicles in the world, we want to cover 1 million in India by 2025," said Saurabh Mohan Saxena, founder, AOHDS Technologies with hydrogen in demand system.
As per a statement, the company's target is to facilitate the adoption of clean fuel at affordable prices by avoiding cylinder space and least changes to vehicles, similar to CNG kit pricing. Hydrogen on demand technology is expected to attract millennials the most as it would make them eco-friendly and save plenty of money. The government is pushing clean energy sources like solar, wind along with alternate fuels like Ethanol blending and electric vehicles.
"To achieve carbon neutrality, India needs to focus on research and innovation. We, at FITT-IIT, make all efforts in enabling innovations and techno-preneurship, business partnerships, technology development, collaborative R&D and technology commercialization. FITT has incubated AHODS Technologies, hydrogen on demand, to accelerate the pace of decarbonization in the country," said Anil Wali, MD, FITT-IIT.
As per reports, the minister of roads and highways, Nitin Gadkari, recently drove a zero-emission vehicle to Parliament and has frequently emphasized. The statement says, "In the coming days, we have to strengthen our economy and at the same time save the environment. Our priority is green hydrogen which can help in maintaining equilibrium between ecology, environment and development."