GAIL (India) has announced its plans to invest in Start-Ups operating in the area of Compressed Bio Gas (CBG), through its Start-Up initiative ‘Pankh’. The company has opened a fresh Round for Solicitation of Investment Proposals from Start-Ups operating specifically in the area of CBG.
According to GAIL (India)’s press release, the Start-Ups 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.
Start-Ups operating in any of the following areas of CBG can apply in this round:
- Start-Ups providing technology,
- Start-Ups planning to expand their existing CBG plants
- Start-Ups planning to set-up new CBG Plants
GAIL had launched its ambitious Start-Up initiative ‘Pankh’ in 2017 to invest in promising Start-Ups. So far, GAIL has made investments in 24 Start-Ups operating in various areas through four Solicitation Rounds.
India has vast biomass resources and the Government is giving special emphasis on its utilization by encouraging setting-up of CBG plants. Further, Oil & Gas Companies are ready to give commitment for off take of CBG through issue of Letter Of Intent (LOI). Thus, it provides good business opportunity to Start-Ups operating in this area.
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