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'

learn more about Teena Jose

By Teena Jose

Pexels

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

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."

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics

News and Trends

Scam 2023: Inside The World Startup Convention Disaster

To many, the speaker line up for the World Startup Convention (WSC) which had been scheduled for March 24-26, 2023 at Greater Noida may have seemed too good to be true.

Leadership

5 Insider Tips for Improving Your Confidence as a Public Speaker

Presenting publicly can be a nerve-wracking experience. Here are five key tips to help you boost your confidence.

Leadership

5 Steps to Communicate Like a Boss

Here are five tips leaders can use to improve their communication skills.

News and Trends

Why Government May Ban Related Party Sales Of E-commerce, Food Delivery Startups

"E-commerce companies are permitted to merely operate a pure-play marketplace i.e. a bridge between the buyer and seller and not sell any goods, even their own products on their platforms," said Praveen Khandelwal, secretary general, CAlT

Technology

Up, Up And Away: Inside India's First Private Space-Tech Company

In the beginning, investors did not believe that a 24-year-old could form a space company in India.

Business News

This Ghostwriter Made $200,000 Last Year Writing Tweets for Venture Capitalists

One man's side hustle makes him more money than his day job, and only costs him five hours a week of his time.