India’s sugar industry can leverage sugarcane and other domestic feedstocks to produce a wider range of biochemicals and reduce dependence on imported chemical products, according to Dr Sangeeta Srivastava, Executive Director, Godavari Bio Refineries. Speaking at the Indian Sugar & Bio-energy Manufacturers Association (ISMA) Conference 2026, Srivastava said India should move beyond using sugarcane primarily for sugar and ethanol. Instead, the country should unlock the value of the carbon contained in sugarcane to produce fuels, chemicals, and other high-value products.

Sugarcane Can Power Integrated Biorefineries

According to Srivastava, India has the potential to develop integrated biorefineries that convert multiple feedstocks into a broad portfolio of products. In addition to sugarcane, the industry could use grain and other domestic agricultural resources to expand production possibilities. Potential products include polylactic acid (PLA), polyhydroxyalkanoates (PHA), lactic acid, xylitol, biofuels, and biobutanol. By diversifying beyond sugar and ethanol, sugar mills could move further up the value chain and generate greater economic value from the same agricultural resources.

India Has a History of Bio-Based Chemical Production

Srivastava noted that India has previously produced several bio-based chemicals, including biobutanol. Godavari Bio Refineries was the first bio-based butanol producer in India, with production at its facility in Barabanki, Uttar Pradesh, before the operation was discontinued around 1998. India has also produced bio-based chemicals such as acetic acid, butanol, and acetaldehyde, demonstrating the country’s existing capabilities in bio-based manufacturing.

Responsible Feedstock Sourcing Will Be Critical

India’s combination of abundant sunlight, agricultural resources, and a large small-farmer base provides a strong foundation for a bio-based chemicals industry. However, Srivastava stressed that the industry must ensure farmers benefit from the value created from agricultural feedstocks. As bio-based chemicals gain market acceptance, traceability and responsible sourcing will become increasingly important. Customers are likely to demand greater visibility into the source of carbon, the sustainability of feedstocks, and the methods used to produce them. Therefore, companies will need to adopt good agricultural practices while ensuring responsible treatment of farmers and agricultural workers.

Soil Health and Sustainable Agriculture Matter

The long-term growth of the bio-based chemicals industry will depend on reliable agricultural feedstocks. Consequently, protecting soil health and promoting regenerative agriculture will become increasingly important. Srivastava said responsible sourcing practices can help secure feedstock while creating a more sustainable relationship between chemical manufacturers and agricultural communities. She advocated closer collaboration between companies and farmers to develop reliable feedstock supply chains while maintaining sustainable agricultural practices.

Sugar Mills Can Evolve into Integrated Biorefineries

Srivastava said sugar mills could gradually transform into integrated biorefineries by adopting multiple technologies and processing different feedstocks. These facilities could produce first-generation (1G) and second-generation (2G) ethanol, compressed biogas (CBG), green methanol from carbon dioxide, and other value-added products. Furthermore, she argued that the industry should increasingly view ethanol as a chemical feedstock, rather than relying on it primarily as a transportation fuel. Ethanol can be produced through different technological routes, including 1G, 2G, 3G, and 4G technologies. In addition, gas fermentation and carbon dioxide conversion could create further pathways to valuable chemicals.

India Can Reduce Imports of Ethanol-Based Chemicals

According to Srivastava, India imports approximately ₹5,000 crore worth of ethanol-based chemicals, creating a significant opportunity for domestic manufacturers. She identified products such as ethanolamines, ethylene oxide, and specialty chemicals derived from acetaldehyde as potential areas for domestic production. Developing these products locally could therefore help reduce import dependence while strengthening India’s domestic chemical manufacturing capabilities.

From Energy Security to Chemical Security

Srivastava called for India to broaden its focus from energy security to chemical security by producing more carbon-based products domestically. As reported by chinimandi.com, rather than evaluating sugarcane only by the tonnes of cane produced, she suggested assessing the carbon contained in each tonne of sugarcane and exploring ways to convert that carbon into higher-value fuels, chemicals, and materials. Moving up the value chain could generate significantly greater economic value than using the same feedstock solely for fuel.

Organic Recycling Systems Limited (ORSL) bagged its third Engineering, Procurement, Construction, Operation and Maintenance (EPCOM) contract from Bharat Petroleum Corporation Limited (BPCL) within a week. The latest order further strengthens ORSL’s presence in India’s growing compressed biogas (CBG) sector.

BPCL Awards ₹92.41 Crore CBG Project

The latest Letter of Acceptance (LoA), dated September 8, 2026, has been awarded to ORSL’s wholly owned subsidiary, Solapur Bioenergy Systems Pvt. Ltd. (SBESPL). Under the contract, SBESPL will develop an organic municipal solid waste-based CBG plant in Kozhikode, Kerala. The project has a total contract value of approximately ₹92.41 crore, including GST. The facility will convert organic municipal solid waste into compressed biogas, supporting India’s efforts to expand renewable and waste-based energy solutions.

ORSL’s BPCL Contracts Reach ₹259.71 Crore

With the latest Kozhikode award, ORSL’s cumulative EPCOM contracts from BPCL have increased to three projects with a combined value of ₹259.71 crore. The projects span Karnataka, Chhattisgarh and Kerala, strengthening ORSL’s geographical footprint in India’s CBG market. BPCL awarded the first two contracts for projects in Mysuru and Raipur on September 3 and September 4, 2026, respectively. Just five days later, ORSL secured the Kozhikode project.

Five-Year O&M Contracts Add Recurring Revenue

Importantly, each of the three EPCOM contracts includes a five-year Operations and Maintenance (O&M) mandate. Therefore, once all three plants become operational, the contracts will collectively provide approximately 15 plant-years of contracted O&M operations. This structure gives ORSL an opportunity to generate recurring, annuity-style operating revenue alongside its EPC project income.

Strengthening India’s CBG Infrastructure

The series of BPCL contracts marks a significant step in ORSL’s expansion across India’s waste-to-energy and compressed biogas industry. By developing CBG plants based on organic municipal waste, the projects can support both waste management and renewable energy generation. At the same time, the long-term O&M arrangements can strengthen ORSL’s presence across the complete project lifecycle. As reported by business-standard.com, with three BPCL contracts secured within a single week, ORSL is further positioning itself as a key player in India’s expanding CBG and organic waste management infrastructure.

IOL Chemicals and Pharmaceuticals Limited (IOLCP) announced three strategic business and capacity expansion projects aimed at strengthening its manufacturing base, entering high-value service segments, and expanding long-term partnerships with global customers. The company plans to invest approximately ₹495 crore across the three initiatives. Importantly, IOLCP will fund the entire expansion through internal accruals, avoiding additional debt for these projects.

Ibuprofen Capacity to Rise to 18,000 MTPA

As global demand for ibuprofen continues to grow, IOLCP plans to expand its manufacturing capacity at its Barnala facility in Punjab. The company will invest approximately ₹350 crore to establish a fully backward-integrated ibuprofen manufacturing unit with an additional capacity of 6,000 MTPA. IOLCP currently has an installed ibuprofen capacity of 12,000 MTPA, operating at around 95% utilisation. Once the new facility becomes operational, the company’s total ibuprofen capacity will increase to 18,000 MTPA. The expansion will leverage IOLCP’s existing backward-integrated manufacturing infrastructure. Consequently, the company expects to strengthen supply reliability while supporting growth opportunities in international markets. Commercial production is targeted to begin by December 2027.

IOLCP Expands into CDMO Manufacturing

Alongside its API expansion, IOLCP is entering the downstream pharmaceutical formulations segment through a dedicated Contract Development and Manufacturing Organisation (CDMO) facility at its Barnala site. The company has invested ₹110 crore, funded entirely through internal accruals, to establish the new facility. The unit will have an annual installed capacity of approximately 1,500 million tablets or equivalent Direct Compressible Grade volume.

The CDMO business will build on IOLCP’s existing API capabilities and focus on meeting the long-term contract manufacturing requirements of key customers in Europe. Furthermore, the facility has received the Certificate of GMP Compliance of a Manufacturer from Hungary’s National Centre for Public Health and Pharmacy, Directorate for Drug Inspection, following a successful regulatory audit. IOLCP expects the new CDMO facility to begin commercial operations in Q3 FY2027.

Specialty Chemicals Facility Under Long-Term Tolling Contract

The third initiative focuses on specialty chemicals. IOLCP is setting up a dedicated manufacturing facility for a specialty chemical product under an exclusive, long-term tolling agreement with a leading international chemical manufacturer. The project involves an investment of approximately ₹35 crore, which will also be funded through internal accruals. Under the agreement, the dedicated facility will manufacture and supply the specialty chemical directly to the international customer. This arrangement is expected to provide IOLCP with a predictable revenue stream while increasing its presence in higher-margin contract manufacturing. However, due to commercial confidentiality provisions, IOLCP has not disclosed the identity of the customer or the contracted volumes. Commercial production at the dedicated specialty chemicals facility is scheduled to begin in Q3 FY2027.

₹495 Crore Investment to Support Long-Term Growth

Through these three initiatives, IOLCP is expanding beyond its established API manufacturing base while strengthening its position in ibuprofen, CDMO services and specialty chemicals. The combined ₹495 crore investment, funded through internal accruals, will increase manufacturing capacity, expand value-added offerings, and strengthen the company’s relationships with international customers. As reported by equitybulls.com, with commercial operations planned between December 2027 and Q3 FY2027, the projects are expected to support IOLCP’s long-term growth across pharmaceutical and specialty chemical markets.

Indian universities are strengthening their position in the global entrepreneurship ecosystem, with eight institutions ranking among the world’s top 100 universities for entrepreneurs, according to PitchBook’s 2026 rankings. The ranking highlights the growing contribution of graduates from India’s leading institutions, particularly the Indian Institutes of Technology (IITs), to the country’s venture-backed startup ecosystem.

IIT Bombay Leads Indian Universities

IIT Bombay emerged as the highest-ranked Indian institution, securing 22nd place globally with 756 founders and 590 companies. Meanwhile, IIT Delhi ranked 27th with 640 founders and 546 companies. Other Indian institutions in the top 100 include IIT Madras at 48th, IIT Kharagpur at 49th, IIT Kanpur at 50th, Delhi University at 62nd, University of Mumbai at 74th, and BITS Pilani at 91st. PitchBook’s annual ranking tracks alumni founders whose companies have raised venture capital over the past decade. The 2026 edition covers more than 222,000 venture-backed founders, based on companies that received funding between January 1, 2015, and August 1, 2026.

IIT Alumni Raise $156.65 Billion

The five IITs featured in the global top 100 collectively account for 2,705 founders and 2,256 companies. These companies have raised a combined $156.65 billion in venture capital. Interestingly, IIT Delhi leads the group in terms of capital raised. Its alumni have secured $55.65 billion, despite the institution having fewer founders than IIT Bombay. IIT Bombay alumni have raised $33.64 billion, followed by IIT Kharagpur at $23.19 billion, IIT Madras at $22.98 billion, and IIT Kanpur at $21.2 billion.

University Ecosystems Drive Startup Growth

According to Johnny Edward, Partner, Grant Thornton Bharat, the rankings reflect more than the quality of talent produced by these institutions. They also highlight the strength of the entrepreneurial ecosystems developing around universities. Edward said IITs have benefited from a combination of a selective talent pool, strong alumni networks, incubation infrastructure, and connections with investors. These advantages, he noted, have continued to build over several decades. Similarly, Thillai Rajan, Professor at IIT Madras and Head of the Centre for Research on Start-Ups, pointed to the expanding ecosystem supporting student and faculty entrepreneurship.

IIT Bombay and IIT Delhi Show Different Strengths

The comparison between IIT Bombay and IIT Delhi also highlights an important difference between entrepreneurial volume and startup scale. While IIT Bombay has produced more venture-backed founders, IIT Delhi’s alumni have raised significantly more capital. Experts suggest that differences in industry focus, company maturity, and a small number of large funding rounds could explain the gap. Therefore, founder numbers and capital raised provide complementary measures of entrepreneurial success. Funding requirements also vary significantly across sectors. For example, capital-intensive businesses such as e-commerce generally require larger investments than many other startup categories.

US Continues to Dominate Global Rankings

The United States continues to dominate PitchBook’s global top 100, with 62 universities represented. India and Canada follow with eight institutions each. At the top of the ranking, University of California, Berkeley recorded 2,380 founders, compared with 756 founders from IIT Bombay. According to Edward, the gap reflects the greater depth of the US entrepreneurial ecosystem. American universities benefit from extensive connections with venture capital firms, research institutions, industry players, and established startup clusters. As reported by thehindubusinessline.com, the strong performance of Indian universities signals the growing role of higher education institutions, incubation centres, alumni networks, and investor ecosystems in supporting India’s startup and entrepreneurship landscape.

Tata Chemicals Limited has won the India Gold MIKE Award 2026 for its excellence in innovation and knowledge management. The company received the recognition under the National MIKE Award 2026 for effectively using knowledge and innovation to develop impactful products, services, and solutions. The recognition further highlights Tata Chemicals’ efforts to build a strong culture of innovation, continuous learning, and collaboration.

Tata Chemicals Recognised for Innovation and Knowledge Management

The National MIKE Award’s International Review Panel, comprising 35 knowledge management experts from 14 countries, selected Tata Chemicals as an India Gold MIKE Award winner. The award recognises the company’s focus on knowledge management and innovation-led practices. In particular, Tata Chemicals has strengthened its innovation culture by empowering knowledge workers, promoting transformative leadership, and developing solutions that address customer and stakeholder needs. Moreover, these initiatives help the company encourage continuous learning, collaboration, and value creation across its operations.

Focus on Innovation and Continuous Improvement

Tata Chemicals has consistently focused on applying knowledge, technology, and employee expertise to support business growth and innovation. Through its knowledge management practices, the company encourages employees to share expertise, collaborate across functions, and develop new solutions. As a result, these practices support continuous improvement while helping Tata Chemicals respond to evolving customer and industry requirements.

Tata Chemicals’ Leadership on the Recognition

Dr Richard Lobo, Head – Innovation, R&D, Business Excellence and Chief Ethics Counsellor, Tata Chemicals Limited, said the recognition reflects the commitment of the company’s employees to innovation and excellence. He noted that Tata Chemicals’ mission and vision continue to guide its efforts to serve society through science. He also highlighted the role of its people in driving innovation, continuous improvement, and the effective application of knowledge and skills to achieve strategic objectives. Tata Chemicals remains committed to strengthening a culture of innovation, creativity, adaptability, and collaborative learning across the organisation.

National MIKE Award 2026

The National MIKE Award recognises organisations in India that demonstrate excellence in knowledge management and innovation-led practices. In 2026, Tata Chemicals was named an India Gold MIKE Award Winner alongside Afcons Infrastructure Limited, Cognizant Technology Solutions Pvt. Ltd., Kalpataru Projects International Limited, and LTM Ltd. The recognition reinforces Tata Chemicals’ focus on innovation and knowledge management as key drivers of sustainable business growth and long-term value creation.

German deeptech company BIOWEG will begin construction of Europe’s largest bacterial cellulose production facility in the fourth quarter of 2026. The facility, located in Elsdorf, North Rhine-Westphalia, will produce up to 10,000 tons of bacterial cellulose annually, with commercial production expected to begin in 2028. The facility will help expand European production of bacterial cellulose, a biodegradable material that can replace fossil-based polymers and intentionally added microplastics. Currently, Europe relies heavily on imports for this material.

Facility to Support Microplastic-Free Alternatives

The project comes as Europe tightens restrictions on intentionally added synthetic polymer microparticles under REACH regulations. These restrictions are gradually removing fossil-based microplastics from applications such as fertiliser and seed coatings, cosmetics, and detergents. As a result, manufacturers need alternatives that can deliver comparable performance while being available at industrial scale. BIOWEG aims to address this demand through its bacterial cellulose-based materials. Construction at Elsdorf will begin before the end of 2026, while industrial-scale production is scheduled to start in 2028. To accelerate the project, BIOWEG has allocated around 60% of its total funding to the new facility.

BIOWEG Secures €35 Million in Funding

Since announcing its €16 million Series A funding in September 2025, BIOWEG has secured an additional €14 million. The latest funding includes €2 million in equity from Rabo Ventures, extending the Series A to €18 million. In addition, BIOWEG has received €10.3 million in non-dilutive EU funding through the “Produktives.NRW” grant competition under the EFRE/JTF Programme for North Rhine-Westphalia 2021–2027. With a further €2 million from other sources, BIOWEG’s total funding has now reached €35 million.

Elsdorf Plant to Use Local Industrial Feedstocks

The location of the new facility will play an important role in its production economics. BIOWEG will build the plant within one of Germany’s largest sugar industrial complexes. Consequently, the facility will use molasses and other industrial side streams as fermentation feedstock close to where they are generated. This approach can reduce logistics-related emissions, lower operating costs, and strengthen feedstock security. The facility will use a high level of automation. BIOWEG plans to apply automation and robotics expertise from the sugar industry to create an efficient biomanufacturing operation.

Quakenbrück Pilot Plant to Support Commercial Production

While construction continues at Elsdorf, BIOWEG’s pilot facility in Quakenbrück will remain operational. The company is upgrading and automating the site, increasing its production capacity from around 100 tonnes to at least 200 tonnes per year. The facility will supply commercial batches through 2027 and 2028 until the Elsdorf plant becomes operational. The Quakenbrück facility will also serve as the automation blueprint for the larger industrial-scale plant.

Bacterial Cellulose Targets Agriculture and Consumer Products

BIOWEG’s bacterial cellulose-based ingredients are already being used commercially across several applications. In agriculture, the company develops microplastic-free fertiliser coatings, seed coatings, and extrusion aids. In some formulations, these products can deliver the required performance at up to 70% lower dosage than conventional synthetic alternatives, potentially reducing cost-in-use. Meanwhile, in cosmetics, personal care, and home care, BIOWEG’s ingredients provide properties such as texture enhancement, rheology control, suspension, film formation, and sensory effects. The company also operates an in-house formulation team that develops ingredients according to specific customer applications and supports reformulation requirements.

BIOWEG Targets Industrial-Scale Sustainable Production

Dr Prateek Mahalwar, Co-founder and CEO, BIOWEG, said financing a first-of-a-kind industrial biotechnology plant is a major challenge and highlighted the role of German and EU support in sharing the investment risk. He added that locally available food and agricultural side streams can provide a reliable feedstock base for producing high-performance, biodegradable ingredients at industrial scale.

Dr ir Katrien Swerts, Executive Director, Rabo Ventures, said BIOWEG has reached a stage where proven technology and commercial demand can support industrial-scale production. She highlighted the company’s biodegradable alternatives to fossil-based polymers and the importance of the Elsdorf facility in meeting growing customer demand. As per the press release, with the Elsdorf project, BIOWEG is positioning bacterial cellulose as a scalable, biodegradable alternative for industries seeking to reduce their reliance on fossil-based polymers and intentionally added microplastics.

ONGC Chairman and CEO Arun Kumar Singh announced a ₹2,000-crore alternative investment fund (AIF) for deeptech energy start-ups at IIT Bombay. The announcement came as ONGC signed a tripartite memorandum of understanding (MoU) with MC²⁺ Foundation, IIT Bombay and the Society for Innovation and Entrepreneurship (SINE), IIT Bombay’s start-up incubator. The initiative aims to bring major public-sector energy companies under a common framework to support technology-driven start-ups and accelerate innovation across the energy sector.

Fund to Support Energy-Sector Start-Ups

The fund will operate under Petronet LNG and bring ONGC, HPCL, Indian Oil, BPCL, GAIL, Oil India and Petronet LNG under a common mandate. According to Singh, the structure will help streamline collaboration among public-sector energy companies and reduce governance-related challenges in coordinating start-up support. Meanwhile, the programme’s first phase will provide financial assistance to up to 30 start-ups. Up to ₹50 lakh in convertible funding for each selected start-up . Additional funding of up to ₹1.5 crore based on milestones.

Seven Key Areas of Energy Innovation

The initiative will focus on technologies that can address major challenges across the oil, gas and wider energy sectors.

The seven focus areas include:

Artificial intelligence for subsurface intelligence

Next-generation drilling and well-completion technologies

Hydrogen and mobility

Bioenergy, including compressed biogas (CBG)

Refinery process intensification and catalysis

Digital asset management

Energy-transition technologies

Consequently, the programme is expected to create opportunities for deeptech start-ups working across exploration, production, refining, clean energy and digitalisation.

Energy Sector Receives Small Share of Start-Up Funding

Singh highlighted the funding gap faced by energy-focused start-ups. He said only around 2% of the approximately ₹5.45-lakh crore committed to India’s start-up ecosystem reaches the energy sector, while oil and gas receives only about 0.15%. Furthermore, ONGC’s Bharat Innovate initiative has interacted with around 500 deeptech start-ups. Singh noted that nearly 90% of these start-ups identified market access, rather than funding, as their primary requirement. Therefore, the new initiative aims not only to provide capital but also to create stronger pathways for start-ups to work with major energy companies.

Deepwater Exploration Emerges as a Priority

Deepwater exploration has been identified as another important area for technology development. Singh pointed out that drilling a single deepwater well can cost between ₹600 crore and ₹1,500 crore. Advanced technologies that can improve exploration efficiency, reduce costs and manage operational risks could therefore have significant commercial value. The government has also separately committed ₹84,000 crore to deepwater exploration, according to the report.

MoU Strengthens IIT Bombay–Industry Collaboration

The MoU was formally exchanged by Ratnesh Kumar, Executive Director and Chief Corporate Strategy, ONGC, and Shrikrishna Kulkarni, Dean of Research and Development, IIT Bombay. IIT Bombay Director Shireesh Kedare and SINE head Nishant Sharma also addressed the gathering. The partnership is expected to strengthen collaboration between academia, start-ups and public-sector energy companies while supporting the commercialisation of emerging technologies.

Focus Shifts from Funding to Market Access

The ₹2,000-crore fund marks a significant step towards strengthening India’s energy innovation ecosystem. More importantly, its focus on deeptech, market access and collaboration with major energy companies could help promising technologies move from development to commercial deployment. As reported by urbanacres.in, by combining funding, industry access and institutional support, ONGC and its partners aim to accelerate the adoption of next-generation technologies across India’s evolving energy landscape.

Solapur Bioenergy Systems Private Limited (SBESPL), a wholly owned subsidiary of Organic Recycling Systems Limited (ORSL), bagged two Engineering, Procurement, Construction, Operation and Maintenance (EPCOM) contracts from Bharat Petroleum Corporation Limited (BPCL) to develop compressed biogas (CBG) plants in Karnataka and Chhattisgarh. The two contracts have a combined value of approximately ₹167.30 crore. The projects will convert organic municipal solid waste into CBG, supporting India’s growing waste-to-energy and renewable fuel ecosystem.

Two CBG Plants to Add Nearly 9.8 TPD Capacity

BPCL awarded the contracts for CBG plants in Mysuru, Karnataka, and Raipur, Chhattisgarh. The Mysuru project is valued at approximately ₹85.56 crore and will have an expected processing capacity of around five tons per day (TPD). Next, BPCL awarded the Raipur project, valued at approximately ₹81.74 crore, including GST. The plant is expected to process around 4.8 TPD. Together, the two facilities will add nearly 9.8 TPD of processing capacity.

Projects Include Five Years of O&M

Both projects must be completed within 15 months of the Letter of Acceptance (LOA). Mechanical completion is targeted within 12 months, after which ORSL will provide five years of operations and maintenance (O&M) services from commissioning. This integrated EPCOM model extends ORSL’s role beyond plant construction and includes long-term operational responsibility. The company also confirmed that neither contract involves any promoter interest or related-party transaction.

ORSL Strengthens Partnership with Public-Sector Oil Companies

Pankaj Tanwar, CEO, Bioenergy, Organic Recycling Systems Limited, said that securing two EPCOM contracts from BPCL simultaneously in Karnataka and Chhattisgarh marks a significant milestone for the company. He highlighted that the projects go beyond conventional engineering and construction contracts because they include five-year O&M responsibilities. According to Tanwar, this reflects BPCL’s confidence in ORSL as a long-term operating partner rather than only a project developer.

CBG Portfolio Expands Through BPCL and IOCL Engagements

The latest BPCL contracts further strengthen ORSL’s engagement with India’s public-sector oil marketing companies. The company recently secured the renewal of its O&M contract for the Gorakhpur CBG plant from Indian Oil Corporation Limited (IOCL). Consequently, the BPCL and IOCL projects strengthen ORSL’s position in India’s expanding compressed biogas and waste-to-energy sector. The company said the engagements also demonstrate growing confidence in its technical capabilities, project execution expertise and long-term plant operations. As reported by chinimandi.com, as India continues to promote waste-based renewable fuels, the development of municipal solid waste-based CBG plants could support both urban waste management and cleaner fuel production.