GAIL (India) Limited announced plans to invest in startups operating in the area of Compressed biogas (CBG) through its Start-Up initiative ‘Pankh’.
GAIL said that it has opened a fresh round for Solicitation of Investment Proposals from Start-Ups operating specifically in the area of CBG. 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.
According to GAIL’s press statement, 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 offlake of CBG through issue of Letter Of Intent (LOI). Thus, it provides a good business opportunity to Start-Ups operating in this area.
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 July 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.
GAIL (India) Limited is a US$ 9.5 billion and India’s Largest Natural Gas Company, which has a significant presence in natural gas transmission, marketing and processing, LPG transmission, petrochemicals, City Gas and E&P.
GAIL has presence in Egypt and China through CGD projects and in Myanmar and USA for E&P. GAIL Global (Singapore) Pte. Ltd. has been set up for overseas investments and trading activities.
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