In a bid to support the start-ups operating in identified focus areas including natural gas, petrochemicals, energy and electric mobility, GAIL (India) Ltd, the nation's largest gas transmission and distribution firm, 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 startups operating in focus areas which mainly include natural gas, petrochemicals, energy, project management, logistics, electric mobility, bio manure marketing, nanomaterials, IoT and data mining, environment, health and social," the firm said in a statement.
"The startups interested in equity investment from GAIL can apply through the link 'GAIL Pankh' on the GAIL website. The current solicitation round will remain open till July 31, 2022," it added. Earlier last month, GAIL announced the plans to enter into distributed Liquefied Natural Gas (LNG) production to take the fuel to users.
"In a first-of-its-kind endeavour in the country, GAIL plans to enter into distributed LNG production with the vision to cater to the demand from off-grid locations and the transport sector," it said in a statement. 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 fueling stations and in bunkering," the company said.
