GAIL To Invest In Startups Operating In Focus Areas Including Natural Gas, Energy, Electric Mobility And Nano Materials

In a bid to support the start-ups operating in identified focus areas including natural gas, petrochemicals, energy and electric mobility, state-owned gas major GAIL India Limited plans to invest in such companies through its startup initiative 'Pankh'.

"GAIL has now opened a fresh round for solicitation of Investment Proposals from the Start-Ups operating in focus areas which mainly includes Natural Gas, Petrochemicals, Energy, Project Management, Logistics, Electric Mobility, Bio Manure Marketing, Nano Materials, IoT and Data Mining, Environment, Health and Social, etc," the company said in a regulatory filing on Wednesday (6 July)

The Start-Ups interested in equity investment from GAIL can apply through link 'GAIL Pankh' on GAIL website.

The current Solicitation Round will remain open till 31 July, the company said.

Earlier last month, in a first-of-its kind endeavour in the country, GAIL announced the plans to enter into distributed Liquefied Natural Gas (LNG) production in a bid to cater to the demand from off-grid locations and transport sector.

The company said that it has placed order for two small-scale liquefaction skids capable of producing LNG on a pilot basis.

Liquefaction will be achieved through proprietary technology-based mobile liquefaction skids, it added.

"These plants will help in distribution of natural gas through liquefaction in new CGD (City Gas Distribution) areas, liquefaction of gas at isolated fields and will support setting-up of LNG fuelling stations and in bunkering," the company said.

It will be first of its kind in the country to introduce portable and scalable liquefaction units, the state-owned natural gas producer said.