India's BPCL launches 'Emerge' to fund energy & CGD startups

Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company, has announced the launch of the 'Emerge' cohort under the BPCL Ankur Fund to support startups in Energy Efficiency and City Gas Distribution (CGD). This reinforces BPCL's contribution towards India's transition to a greener and more efficient energy future through its commitment to fostering sustainability and innovation in the oil and gas sector.

Since its inception in 2016, BPCL through its startup initiative 'Ankur' has supported 30 startups with grants amounting to approximately ₹28 crores (~$3.25 million).

With the launch of the 'Emerge' cohort, BPCL through its 'BPCL Ankur Fund' aims to make investments in startups that have developed a Proof of Concept (PoC)/ prototype/ Minimum Viable Product (MVP) or fully implemented solution in the Oil & Gas sector or any other industry and are now ready to expand into Oil & Gas.

The applications for the Emerge cohort are open for startups across two key themes: Energy Efficiency and CGD. The Energy Efficiency theme focuses on innovative solutions that optimize energy consumption, enhance sustainability, and reduce greenhouse gas emissions within the oil and gas sector which includes advancements such as AI-powered energy management, predictive maintenance of equipment, heat transfer optimization, waste heat recovery solutions etc.

Under the City Gas Distribution theme, applications will focus on cutting- edge technologies that enhance customer experience, operational efficiency, safety, last mile connectivity and project execution. It includes solutions like smart metering, pipeline monitoring & leak detection, predictive maintenance, AI-driven project execution tools etc. These themes align with BPCL's commitment to fostering a sustainable and technology-driven energy ecosystem.

BPCL Ankur Fund invites applications from eligible early-stage startups that are working under the specified thematic categories. Selected startups can receive investment of up to ₹5 crores through funding modes such as equity, Compulsory Convertible Preference Shares (CCPS), etc., with a maximum stake of 20%.

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Fibre2Fashion News Desk (HU)