HPCL's 'Udgam' Initiative: Fuelling India's Clean Energy Future Through Startup Support
Key Ideas
  • HPCL invests ₹27 crore in 28 startups through 'Udgam', focusing on clean energy solutions like green hydrogen and IoT-enabled energy.
  • Oil India Limited contributes ₹50 crore to 15 startups working on advanced technologies, including hydrogen fuel cell e-buses.
  • HPCL reports a 18% increase in net profit for Q4 of FY 2024–25, standing at ₹3,355 crore, with plans to expand Vizag refinery capacity by 20%.
  • Initiatives like 'Udgam' are driving India's energy transition by supporting startups and fostering innovation in sustainable energy solutions.
Hindustan Petroleum Corporation Ltd. (HPCL) has demonstrated its commitment to India's clean energy future by investing ₹27 crore in 28 innovative startups through its flagship startup platform 'Udgam'. 'Udgam' focuses on supporting startups working on clean and smart energy solutions, with a total funding mobilization of ₹35 crore so far. The initiative backs ventures involved in sectors such as green hydrogen, ethanol production, smart LPG cylinders, emission control technologies, IoT-enabled energy solutions, cashless payment systems, waste-to-energy innovations, and carbon capture technologies. This support is instrumental in shaping India's sustainable energy roadmap through high-impact, tech-driven solutions. Further, Oil India Limited has also joined the momentum by contributing ₹50 crore to 15 startups focusing on advanced technologies like hydrogen fuel cell e-buses and wireless robots for oil well inspection. These contributions aim to drive job creation and accelerate technological progress in the energy sector. HPCL's strong financial performance is evident with a standalone net profit of ₹3,355 crore for Q4 of FY 2024–25, marking an 18% increase from the previous year. The company's total income for the quarter stood at ₹1.19 lakh crore. Looking ahead, HPCL plans to expand the capacity of its Vizag refinery by 20% to meet the growing fuel demand in local markets. Through initiatives like 'Udgam', HPCL is actively catalyzing innovation and empowering entrepreneurs to address key challenges in India's energy transition. By supporting next-generation technologies and sustainable business models, HPCL continues to play a crucial role in building a cleaner, smarter, and more resilient energy future for India.
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