Hindustan Petroleum Corporation Ltd. (HPCL) has invested ₹27 crore to support twenty-eight innovative startups through its flagship startup platform ‘Udgam’, reaffirming its commitment to India’s clean energy future.
‘Udgam’ Focuses on Clean and Smart Energy Solutions
The ‘Udgam’ initiative, spearheaded by HPCL, has mobilized ₹35 crore in total funding so far. It supports startups working across cutting-edge sectors such as:
- Green hydrogen
- Ethanol production
- Smart LPG cylinders
- Emission control technologies
- IoT-enabled energy solutions
- Cashless payment systems
- Waste-to-energy innovations
- Carbon capture technologies
The ventures are instrumental in shaping India’s sustainable energy roadmap through high-impact, tech-driven solutions.
Broader Industry Support for Startup Ecosystem
Adding to the momentum, Oil India Limited has contributed ₹50 crore to 15 startups working on advanced technologies like hydrogen fuel cell e-buses and wireless robots for oil well inspection. These investments aim to spur job creation and accelerate technological progress in the energy sector.
Strong Financial Performance Fuels Growth Plans
HPCL also reported solid financials, posting a standalone net profit of ₹3,355 crore for Q4 of FY 2024–25—an 18% increase compared to the same period last year. The company’s total income stood at ₹1.19 lakh crore for the quarter. Looking ahead, HPCL plans to expand the capacity of its Vizag refinery by 20%, preparing to meet the rising fuel demand in local markets.
Driving India’s Energy Transition Through Startups
Through initiatives like ‘Udgam’, HPCL is catalyzing innovation and empowering entrepreneurs to tackle key challenges in India’s energy transition. As reported by knnindia.co.in, by backing next-generation technologies and sustainable business models, HPCL continues to play a pivotal role in building a cleaner, smarter, and more resilient energy future.
