Get All Access for $5/mo

GAIL To Invest in Startups In Compressed Biogas Space CBG-based startups working in providing technology, planning to expand their existing CBG plants, or planning to set-up new CBG plants can apply in the solicitation round

By Debarghya Sil

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

Pixabay

GAIL (India), India's largest state-owned natural gas processing and distribution company, on Friday announced its plans to invest in startups operating in the area of compressed biogas (CBG) through its start-up initiative "Pankh'.

GAIL has opened a fresh round for solicitation of investment proposals from startups operating specifically in the area of CBG. The startups that are interested in equity investment from GAIL can apply on GAIL's website gailonline.com. The solicitation round is open till July 24, 2020.

A statement released by GAIL said, "India has vast biomass resources and the government is giving special emphasis on its utilization by encouraging setting up of CBG plants. Further, oil and gas companies are ready to give commitment for offtake of CBG through the issue of letter of intent. Thus, it provides a good business opportunity to startups operating in this area."

CBG-based startups working in providing technology, planning to expand their existing CBG plants, or planning to set-up new CBG plants can apply in this round.

GAIL had launched its ambitious start-up initiative "Pankh' in July 2017 to invest in promising startups. So far, GAIL has made investments in 24 startups operating in various areas through four solicitation rounds.

Debarghya Sil

Entrepreneur Staff

Former Correspondent

News and Trends

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.

Culture

I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.