Reliance Industries Becomes 1st Indian Company to Chemically Recycle Plastic Waste Into International Sustainability & Carbon Certification (ISCC)-plus Certified Circular Polymers

The new innovation at Reliance Industries' Jamnagar refinery became the first refinery to get the important ISCC-Plus Certification. 

Reliance Industries Limited (RIL), operator of the world's largest integrated refining and petrochemical complex, has become the first Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability & Carbon Certification (ISCC)-Plus certified Circular Polymers. This new innovation is a testimony to RIL's commitment in reducing plastic waste and supporting Circular Economy in India.

Chemical recycling is a new development where the waste plastic, mechanically not recyclable, is converted to pyrolysis oil by suitable cracking of long polymer chain. Currently, most of the pyrolysis processes are based on thermal route which leads to lower yield and inferior quality of pyrolysis oil. RIL has developed a continuous catalytic pyrolysis technology which provides high yields of good quality pyrolysis oil from plastic waste. The process has been successfully demonstrated at demo scale.
RIL shipped its first batch of ISCC-Plus certified Circular Polymers, named CircuRepol™ (Polypropylene) and CircuRelene™ (Polyethylene).

RIL paves the way in India by using new technology to recycle plastic by converting plastic waste into special Circular Polymers, thereby making a positive impact on the environment. RIL’s commitment to sustainability is demonstrated through its innovative methods like chemical recycling which help create a Circular Economy. The company firmly believes in finding smart solutions to reduce plastic waste and inspire others to join in this journey towards a greener future.

CircuRepol™ and CircuRelene™ have been designed to lead the way in Circular Economy practices. RIL's Jamnagar refinery became the first refinery to get the important ISCC-Plus certification, proving that it can produce Circular Polymers through chemical recycling.

The ISCC-Plus certification guarantees that traceability and rules are followed in making Circular Polymers.

RIL has developed a technology that turns different types of plastic waste, including single- use and multi-layered plastics, into pyrolysis oil. The company is working with trusted partners to increase the production of this oil and turn the yield into Circular Polymers.

Chemical recycling has many benefits, including turning plastic waste into high-quality materials for new plastic. These materials can be used for packaging that comes into contact with food.

About Reliance Industries Limited

Reliance is India’s largest private sector company, with a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit INR 1,25,951 crore (US$ 15.3 billion) and net profit of INR 73,670 crore (US$9.0 billion) for the year ended March 31, 2023. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

Currently ranked 88th, Reliance is the largest private sector company from India to be featured in Fortune’s Global 500 list of 'World’s Largest Companies' for 2023. The company stands 45th in the Forbes Global 2000 rankings of 'World’s Largest Public Companies' for 2023, the highest among Indian companies. Reliance is the top-ranked Indian company and the only one in the top 100 on Forbes' 'World's Best Employers' 2023 list. Additionally, it is featured among LinkedIn’s 'Top Companies 2023: The 25 Best Workplaces To Grow Your Career In India.' Website: www.ril.com

Amazon Installs Electrolyzer Via Plug Power To Produce Green Hydrogen for Powering Vehicles in Its Fulfillment Center

Amazon Inc, will now produce its own low-carbon green hydrogen to fuel more than 225 hydrogen fuel cell-powered forklift trucks at the site, known as DEN8.

It was in August last year when Amazon inked a deal with Plug Power Inc (PLUG.O), to supply liquid green hydrogen. Now in a latest, on Wednesday, Plug Power has announced that it has now completed the installation and commissioning of an electrolyzer system at an Amazon fulfillment center in Aurora, Colorado.

The installed Electrolyzer is one-megawatt (MW) proton exchange membrane Electrolyzer which is the first for Amazon and is now producing low-carbon hydrogen a.k.a green hydrogen.

The Electrolyzer, installed at the Amazon fulfillment center, uses electricity and water to produce hydrogen and is able to support up to 400 hydrogen fuel cell-powered forklift trucks. The hydrogen produced by the electrolyzer will be compressed on site and stored in a gaseous hydrogen storage tank for use by the forklift trucks.

Notably, Plug Power has collaborated with Amazon to deploy more than 17,000 fuel cells to replace batteries in forklift vehicles in more than 80 fulfillment centers in North America. However, for most of these locations, hydrogen to power the forklifts is produced elsewhere, liquified, and delivered by trucks to an on-site storage and dispensing system.

Now, with the electrolyzer installed in Amazon's own facility the e-commerce giant will now be producing it's own low-carbon hydrogen.

For this project, Plug Power Inc provided design, installation, commissioning, and maintenance services for the 1MW PEM electrolyzer and hydrogen storage —compatible with the existing refueling infrastructure and fuel cells already in use at the site. This is the first electrolyzer system installed and in use at an Amazon site.

Infosys to Announce Third Quarter Results on January 11, 2024

Infosys (NSE, BSE, NYSE: INFY), a global leader in next- generation digital services and consulting, will announce results for the third quarter ended December 31, 2023 on Thursday, January 11, 2024 around 3:45 p.m. Indian Standard Time (IST) (5:15 a.m. ET; 2:15

a.m. PST; 10:15 a.m. London time; 6:15 p.m. Singapore/Hong Kong time). The results will also be available here.

Press conference

(4:30 p.m. IST; 6:00 a.m. ET)

The leadership team will be part of a press conference at 4:30 p.m. IST on January 11, 2024. The participating executives will address questions from the media during this interaction, which will be streamed live on the Investor Relations section of Infosys website, following which it will be archived here. The archive will be available after 6:30 p.m. IST on January 11, 2024 (after 8:00 a.m. ET). In addition, a transcript of the conference will be available here.

Earnings call

(6:30 p.m. IST; 8:00 a.m. ET)

The company will conduct a 60-minute conference call on January 11, 2024, at 6:30 p.m. IST (8:00 a.m. ET; 5:00 a.m. PST; 1:00 p.m. London time; 9:00 p.m. Singapore/Hong Kong time) (open to investors/analysts in all regions), where the senior management will discuss company's performance and answer questions from participants. To participate in the conference call, please dial the numbers provided below 10 – 15 minutes before the scheduled start time of the call. During this time, the operator will provide instructions on how to ask questions. Alternatively, you can also pre-register yourself using the DiamondPass™ link provided below, which will enable you to connect to the conference call without having to wait for an operator. As participation in the call is limited, early registration is encouraged.

This event will be webcast live on the Investor Relations section of Infosys website, following which it will be archived here. The archive will be available after 8:30 p.m. IST on January 11, 2024 (after 10:00 a.m. ET). In addition, a transcript of the conference call will be available here.

Summary of events

Event	Date and Time	Website/ Region	Telephone No.
Earnings release over the wire services	3:45 p.m. IST 5:15 a.m. ET January 11, 2024	Link
Live webcast of press conference	4:30 p.m. IST 6:00 a.m. ET January 11, 2024	Link

Event	Date and Time	Website/ Region	Telephone No.
Earnings conference call (open for questions from investors / analysts in all regions)	6:30 p.m. IST January 11, 2024 8:00 a.m. ET January 11, 2024 Questions during the call can be addressed to sandeep_mahindroo@inf osys.com	DiamondPass™ registration link
		India	Toll, Mumbai: +91 22 6280 1168 +91 22 7115 8069
		US	Toll-free: 1 866 746 2133
		Singapore	Toll-free: 800 101 2045
		Hong Kong	Toll-free: 800 964 448
		Japan	Toll Free: 0053 116 1110
		UK	Toll Free: 0 808 101 1573
		Germany	Toll-free: 00 8001 424 3444
		Canada	Toll- free: 011 8001 424 3444
		France	Toll-free: 0 800 914 745
Replay of conference call	Till January 18, 2024	Link	Toll-free, USA: 1 833 289 8317 Toll, Mumbai/India: +91 22 7194 5757 Playback code: 4637#

About Infosys Ltd.

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next. 

Cisco Acquires Google, Microsoft-backed Isovalent Inc, An Open Source Cloud Networking Software Startup

Cisco has recently announced that it is acquiring Isovalent, a Google and Microsoft-backed technology startup founded by the creators of Cilium and eBPF. Isovalent builds open-source software and enterprise solutions solving networking, security, and observability needs for modern cloud native infrastructure.

Reports suggest that Cisco is paying around $650 million in cash for the startup, or 32 times its annual recurring revenue.

Isovalent's flagship technology Cilium is the choice of leading global organizations including Adobe, AWS, Capital One, Datadog, GitLab, Google, and many more. Isovalent is headquartered in Mountain View, CA and is backed by Andreessen Horowitz (a16z), Google, Mirae Assets and Cisco Investments, among others.

Isovalent has led the creation of the eBPF Foundation (along with founding members Meta, Netflix, Google, and Microsoft).

Post acquisition, Cisco will continue offering and building on Isovalent’s slate of innovations for customers, including Isovalent Enterprise. The Isovalent team will join the Cisco Security Business Group once the acquisition closes, which is expected in the third quarter of fiscal year 2024.

The acquisition of Isovalent will build on the Cisco Security Cloud vision, an AI-driven, cloud delivered, integrated security platform for organizations of any shape and size. The Cisco Security Cloud enables customers to abstract security controls from multicloud infrastructure to provide advanced protection against emerging threats across any cloud, application or workload.

“Together with Isovalent, Cisco will build on the open source power of Cilium to create a truly unique multicloud security and networking capability to help customers simplify and accelerate their digital transformation journeys,” said Jeetu Patel, executive vice president and general manager of Security and Collaboration at Cisco. "Imagine in today's distributed environment - of applications, virtual machines, containers and cloud assets - having security controls with total visibility, without hindering networking and application performance. The combination of Cisco and Isovalent will make this a reality.”

"Cisco is committed to nurturing, investing in, and contributing to the eBPF and Cilium open source communities,” said Stephen Augustus, Head of Open Source at Cisco. “Isovalent’s team will join Cisco's deep bench of open source governance and technical leadership to solve complex cloud native, security, and networking challenges. Their knowledge will accelerate innovation across the business and help further strengthen the Cisco Security Cloud platform to meet the growing demands of our customers.”

Dermocosmetics Startup Led by Renowned Dermatologist Dr. Chytra Anand Secures Seed Round Investment Led by Inflection Point Ventures

(L-R)  Meera Iyer, Co-Founder & CEO, Dr. Chytra Anand, Founder & Chief Formulator

• SkinQ offers dermatologically tested solutions tailored specifically for melanin-rich skin to enhance confidence and well-being for millions worldwide.
• The funds will be utilised towards new product launches, research and development, team expansion, and brand enhancement.
• SkinQ secured a finalist spot at the esteemed Beauty & You awards by Estee Lauder & Nykaa in November '23.
• Inflection Point Ventures (IPV) has so far invested over INR 650 Cr across 200+ deals.

In a significant boost to the burgeoning personalized skincare market, SkinQ Dermo cosmetics has secured a seed investment led by Inflection Point Ventures with participation from Venture catalysts and Super Angels. This funding round marks a milestone in SkinQ's journey to bring cutting-edge dermo cosmetics solutions to the market.

Founded by the globally acclaimed dermatologist Dr. Chytra V Anand, SkinQ is not just a pioneering brand but a movement towards redefining skincare standards. The company's ethos is rooted in empowering individuals with melanin-rich skin, enhancing their confidence and well-being. With its mission to elevate the Skin Quotient of 10 million customers in the next three years, SkinQ is setting a new precedent in the industry with Clinically tested and proven solutions for Skin of Colour. SkinQ is bringing dermatologist expertise to the homes of the consumers with solutions for common skin concerns. 

The seed capital from IPV is pivotal for SkinQ's aggressive expansion plans. The funds will be strategically channelled towards launching innovative products, ramping up research and development, expanding the team, and enhancing the brand’s market presence. This investment signifies a transformative phase for SkinQ, poised to disrupt the traditional skincare market with its unique focus on melanin-rich skin.

SkinQ is spearheaded by 2 Women of renown in their fields. Founder & Chief formulator, Dr. Chytra Anand, a globally renowned Dermatologist and a leading skin influencer is the visionary force behind SkinQ, leveraging her expertise as a skin of colour expert and acclaimed award winning dermatologist.

Co-Founder & CEO, Meera Iyer, equipped with a B.Sc in Chemistry and Biotechnology, and an MMS in Marketing, complements the venture with her strategic acumen, serving as an instrumental co-founder shaping SkinQ's growth trajectory leveraging her expertise from Unilever, Big basket and Medlife CMO & CBO roles.

Ivy Chin, Partner, Inflection Point Ventures, says, “By embracing the melanin-rich skin of Indians, SkinQ aims to revolutionise skincare by recognizing the unique needs of Indians . By addressing the distinct requirements of the melanin-rich skin, SkinQ has the potential to captivate the hearts of millions, who can truly appreciate the difference in its products.”

SkinQ achieved a significant operational milestone, growing MOM in their revenues, marking substantial growth and success in its endeavours with a discerning customer base and new channels of distribution. SkinQ is the first Indian Origin Dermo Cosmetics brand retailing in Dermatology offices & MedSpas in USA.

It boasts a unique array of strengths and USPs, including clinically proven functional Dermo Cosmetic solutions known for their efficacy. As the brainchild of a dermatologist, the brand stands out as the first to specifically formulate and test products addressing concerns of skin of colour, setting a pioneering standard in the industry.

Dr. Chytra Anand, Founder, SkinQ, says, “Everyone deserves to have healthy glowing skin and access to best in the class solutions celebrating the diversity and uniqueness of Indian skin and melanin rich skin. With over 2/3 of the world’s population being Melanin rich there is an under representation with only 8% of skin solutions solving for them globally.

“The alliance with IPV & our investors is a strategic enabler in our quest to redefine the skincare paradigm through a fusion of scientific ingenuity and technological innovation. This capital infusion is pivotal in augmenting our research and development bandwidth, enriching our bespoke product portfolio, and amplifying our outreach to a discerning customer base.”

We are building a multi-dimensional approach to be present at various touch points of our customers skin health journey in the fasting growing segment today.”

SkinQ garnered notable recognition in the beauty industry, securing finalist positions at esteemed events like Estee Lauder & Nykaa's Beauty & You awards and the D2C Innovation Awards underscoring its innovative approach. Additionally, its sunscreens have received accolades, ranking as the top choices—voted as the top 5 by Vogue Beauty Awards and top 4 by Elle Beauty awards—solidifying SkinQ's commitment to quality and effectiveness in skincare.

The Dermo Cosmetics market in India showed substantial growth, rising from $188 million in 2021 to an anticipated $450 million by 2030, indicating a significant upward trajectory. Globally, the industry was valued at $51 billion in 2021, forecasted to reach an impressive $130 billion by 2030, showcasing substantial expansion and potential for the coming years.

About SkinQ: Founded by Dr. Chytra V Anand, an internationally recognized dermatologist, SkinQ focuses on delivering skincare solutions based on individual skin needs for Skin of Colour concerns.

Combining scientific research with innovative technology, SkinQ aims to set new standards in the skincare industry with proprietary novel formulations.

About Inflection Point Ventures & Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform with over 9600 CXOs, HNIs, and Professionals who together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF, Physis Capital, to invest in pre-Series A to Series B growth-stage start-ups.

Suzlon Secures Two New Orders of 100.8 MW Each from Mahindra Susten and A Leading Nordic Energy Company

Suzlon Group has announced two new separate orders for wind power projects in Maharashtra and Karnataka respectively of 100.8 MW each from — Mahindra Susten Private Limited, a Mahindra Group company, and the Indian subsidiary of a leading Nordic Energy Company.

For Mahindra Susten, Suzlon will install 48 units of their S120 - 140m wind turbine generators (WTGs) with a Hybrid Lattice tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra. Suzlon will execute the project with a full scope of supply, installation, and commissioning. Additionally, Suzlon will also undertake post-commissioning operation and maintenance services.

Electricity generated from the project will be supplied to Commercial and Industrial(C&I) customers in the state of Maharashtra.

For the Nordic Energy Company, Suzlon will install 32 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each. The project is located at Karnataka. This is the repeat order from the customer for the company's largest turbine rated 3.15 MW, S144- 140m from the 3 MW series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and supervise the project including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.

Deepak Thakur, Managing Director and CEO, Mahindra Susten Pvt. Ltd. said, "At Mahindra Susten, we are committed to shaping a sustainable and carbon neutral India. We are delighted to partner with Suzlon, a leading renewable energy solutions provider with reliable technology and a great track record in India. Suzlon's 'Made-in-India' products complement our ideology of supporting 'Aatmanirbhar Bharat'. We look forward to creating many landmark IPP renewable energy projects in the future with a focus on increasing adoption of renewable energy in India."

Girish Tanti, Vice Chairman, Suzlon Group said, "We are delighted to partner with Mahindra Susten, for their first wind energy project. Indian conglomerates like the Mahindra Group are setting examples for corporate India towards embracing renewable energy and meeting India's national sustainability goals. Suzlon deeply shares the values of responsibility, larger good and nation building with Mahindra making this association even more special. This order for our highly successful S120 turbines goes a long way in demonstrating our technology strength through a comprehensive portfolio of proven wind energy technologies."

On receiving repeat order from a Nordic Energy Company, Girish Tanti said, "We are delighted to partner again with the leading Nordic Energy Company. As India's renewable energy ambition sets benchmarks across the world, we are honored to welcome reputed global companies to the Indian market and stand committed to partnering with them every step of the way. A visionary policy environment, a robust domestic market and thriving local supply chain makes India an extremely lucrative renewable energy market for investors and utilities. The Suzlon 3 MW series is the next stage evolution of our proven technology, customized for the Indian wind regime and 3.15 MW is one of the largest wind turbines in the country today."

Adani Energy To Extract 7GW Energy from the World's Largest RE Park Into National Grid

Adani Energy Solutions to build 7 GW renewable energy evacuation transmission network

• Over 300 km, Rs 3,000 cr project will evacuate 7GW of energy from Khavda RE park into national grid
• AESL to build, own, operate & maintain transmission project for a period of 35 years
• AESL now has 20,518 ckm of transmission lines and 53,161 MVA of transformation capacity

Adani Energy Solutions Limited (AESL), a part of the globally diversified Adani portfolio and India’s largest private transmission and distribution company today said it has received the letter of Intent (LoI) for the acquisition of Halvad Transmission Ltd. from PFC Consulting Limited (PFCCL).

Halvad Transmission Ltd., a special purpose vehicle (SPV), was set up by PFCCL for evacuating 7 GW of renewable energy (RE) from the Khavda RE park. AESL acquired it through a tariff-based competitive bidding (TBCB) process and will commission it in 24 months on BOOM (Build, Own Operate, and Maintain) basis.

The world's largest green energy park covering 726 sq km in the Rann desert is visible even from space

The world’s largest RE park, with a generation capacity of 30,000 MW of green energy, is coming up at Khavda, Gujarat. The Halvad transmission line, part of national grid, will help evacuate 7GW of RE by connecting Khavda to Halvad, also in Gujarat.

AESL will invest around Rs 3,000 crore to build, own, operate and maintain the over 301 km (656 ckm) transmission project for a period of 35 years. The project includes setting up of a 765 kV Halvad switching station with 2x330 MVAr bus reactors and a line-in line-out of Lakadia–Ahmedabad 765 kV D/c line at Halvad.

Mr. Anil Sardana, MD, Adani Energy Solutions Ltd., said, “AESL is committed to partnering with the government and developers of renewable energy to expedite efficient evacuation of renewable energy from the generating regions. The 7GW project will go a long way in making additional renewable energy available to consumers. We will use the latest technology to commission this project with minimal environmental impact.”

Winning this project consolidates AESL’s market-leading position and takes its network (installed and under-commissioning) to 20,518 ckm and 53,161 MVA of transformation capacity.

About Adani Energy Solutions Limited (AESL):

AESL, part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. AESL is the country’s largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of 20,518 ckm and 53,161 MVA transformation capacity.

In its distribution business, AESL serves more than 12 million consumers in metropolitan Mumbai and the industrial hub of Mundra SEZ. AESL is ramping up its smart metering business and is on course to become India’s leading smart metering integrator. AESL, with its integrated offering through the expansion of its distribution network through parallel licenses and competitive and tailored retail solutions, including a significant share of green power, is revolutionizing the way energy is delivered to the end consumer. AESL is a catalyst for transforming the energy landscape in the most reliable, affordable, and sustainable way.

BharatPe Records 182% Growth in Revenue in FY23, EBITDA Loss Reduced by Rs 158 Cr

EBITDA loss also decreased by approximately Rs 158 crores

BharatPe, India’s leading name in fintech, today announced its financial performance for the fiscal year 2023, showcasing substantial growth and strategic advancements across key business segments. The fintech firm recorded 182% increase in revenue from operations in FY23, from Rs 321 Cr in FY22 to Rs 904 Cr in FY23. A significant progress was made in reducing loss before tax, plunging from Rs. 5,594 Cr to Rs 886 Cr. Additionally, the EBITDA loss also decreased by approximately Rs 158 Cr, showcasing focused efforts towards financial sustainability.

In the lending vertical, BharatPe's Merchant Lending division witnessed remarkable growth, with a 129% increase in loans facilitated (reaching Rs 5,339 Cr), emphasizing BharatPe's commitment to empowering merchants. BharatPe also introduced innovative revenue streams, including QR usage, credit card bill payments, and utility payments, showcasing dedication to innovation and diversification in its consumer business-postpe. On the other hand, Swipe business experienced a remarkable 63% increase in TPV, and the installation of approximately 8 lakh new soundbox devices in FY23 highlights BharatPe's continuous efforts to expand its presence and drive financial inclusion as well as adoption of digital payments across the country.

Speaking on the milestone, Nalin Negi, CFO and Interim CEO, BharatPe, said, “We are thrilled to announce yet another year of exceptional performance at BharatPe. The significant growth across our business verticals, coupled with improved financial metrics, underscores our commitment to creating value for our merchants and stakeholders. These results are a testament to the hard work and dedication of our team, as well as the trust and support of our valued customers.”

Added Nalin, “Going forward, our strategic focus is on sustained profitability, scaling lending, POS, and soundbox businesses, and launching new merchant-centric products. We are committed to building a sustainable business, fostering financial inclusion, nurturing our partnerships and establishing BharatPe as a leading merchant-first fintech company in the country.”

About BharatPe Group

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatPe Swipe. Currently with a registered network of over 1.3 crore merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 370 million+ UPI transactions. The company processes payments of annualized Transaction Processed Value of over Rs. 1.7 Lac Crores. The company has already facilitated the disbursement of loans of over Rs. 12,400 crores, in partnership with NBFCs. BharatPe’s POS business processes payments of over Rs. 29,000 crores annually on its machines.

BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Peak XV Partners (formerly known as Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management,Dragoneer Investment Group, Steadfast Capital,Steadview Capital and Tiger Global. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members.

In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 15 million downloads. In January 2023, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. BharatPe is also a promoter in TrillionLoans, a renowned NBFC (Non- Banking Financial Company).

 

Adani Green Completes the 1,050 MW JV With TotalEnergies, Raises $300 Mn

• Adani Green Energy Limited (AGEL) completed the transfer of 1,050 MW renewable portfolio to a JV between AGEL and TotalEnergies
• AGEL contributed the mix of operational (300 MW), under construction (500 MW) and under development assets (250 MW) and TotalEnergies has made equity investment of USD 300 million

Adani Green Energy Limited (AGEL) today announced the completion of the 1,050 MW joint venture (JV) with TotalEnergies. As part of the JV, TotalEnergies invested USD 300 million in AGEL subsidiary, for acquiring 50% stake in the projects.

This follows the binding agreement about the JV announced between AGEL and TotalEnergies in September 2023. The JV houses the 1,050 MW portfolio comprising a mix of already operational (300 MW), under construction (500 MW) & under development assets (250 MW) with a blend of both solar & wind power projects in India.

With this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030.

Earlier this week, AGEL announced the execution of power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 1,799 MW of solar power. With the signing of this balance PPA, AGEL completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender awarded to it by SECI in June 2020, which set a record for being the world’s largest solar tender.

Bengaluru Inducts 100 Zero-Emission Electric Buses from Tata Motors

BMTC inducts Tata Motors’ state-of-the-art electric buses for comfortable, emission-free mass mobility

Tata Motors, India’s largest commercial vehicle manufacturer, has accelerated Bengaluru’s electrified public transport with the delivery of technologically-advanced Starbus EVs to Bengaluru Metropolitan Transport Corporation (BMTC). This marks a significant milestone as part of a larger order as per the agreement between TML Smart City Mobility Solutions Ltd., a Tata Motors subsidiary, and BMTC, encompassing the commencement of supply, operation and maintenance of 921 state-of-the-art 12-metre low-floor electric buses, over a 12-year period. Tata Starbus EV, an indigenous innovation, joins BMTC’s fleet, boasting superior design and best-in-class features for a sustainable and comfortable commuting experience. Aligned with the Make in India and Atmanirbhar Bharat initiatives, these zero-emission electric buses are developed on next-gen architecture, powered by advanced battery systems for safe, comfortable and convenient intra-city commute across the city of Bengaluru.Tata Motors’ smart electric bus was inaugurated by Hon’ble Chief Minister of Karnataka, Shri Siddaramaiah along with Hon’ble Deputy Chief Minister of Karnataka, Shri DK Shivakumar, Shri Ramalingareddy, Hon’ble Minister for Transport & Mujarai, Govt of Karnataka & Chairman, BMTC, Shri Rizwan Arshad, Hon’ble MLA, Shivajinagar Assembly Constituency, Ms Kala Krishnswamy, IPS, Director (S&V), BMTC and Ms. G Sathyavathi, IAS, Managing Director, BMTC.

Commenting on the announcement, Ms. G Sathyavathi, IAS, Managing Director, BMTC, said “We are delighted to induct Tata Motors’ state-of-the-art buses after successful completion of prototype trials of Tata’s electric buses within the city. The remarkable performance of these electric buses align perfectly with BMTC’s commitment to reducing our carbon footprint and improving the quality of life for our citizens. These buses will not only contribute towards eco-friendly transportation, but will also offer noise-free and comfortable mass mobility in the city.”

Sharing his thoughts at the event, Mr. Asim Kumar Mukhopadhyay, CEO and MD, TML Smart City Mobility Solutions Limited, said “We are elated to witness our top-of-the-line Starbus EVs inducted in BMTC’s fleet. Our offering to the citizens of Bengaluru is testament to our commitment to cutting-edge, eco-friendly offerings. We are confident that our buses will further strengthen BMTC’s fleet and make public transportation safe, comfortable, tech driven and energy-efficient. These buses have been developed and manufactured at state-of-the-art facilities and have been rigorously tested and validated across varied conditions.”

Till date, Tata Motors has supplied over 1,500 electric buses across multiple cities in India, which have cumulatively clocked more than 10 crore kilometres, with an uptime of over 95%. The Tata Starbus EV, is a cutting-edge e-bus that sets new benchmarks for urban city commuting. With its full-electric drivetrain, this state-of-the-art vehicle optimises energy consumption, resulting in low energy usage and operational costs. It offers features like ease of boarding, comfortable seating and driver-friendly operations, while ensuring zero emissions. Equipped with electronic stability control, electronic brake distribution, air suspension, Intelligent Transport System, panic button among other advanced features, it prioritises comfort and safety to its commuters. This electric bus embodies the commitment to cleaner public transport and is an ideal choice for urban passenger transportation needs.

About Tata Motors

Part of the USD 128 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 42 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks, and buses, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.

Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fueled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations. The company is pioneering India’s Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by developing a tailored product strategy, leveraging the synergy between Group companies and playing an active role in liaising with the Government of India in developing the policy framework.

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors markets its vehicles in Africa, the Middle East, Latin America, Southeast Asia, and the SAARC countries. As of March 31, 2023, Tata Motors’ operations include 88 consolidated subsidiaries, two joint operations, three joint ventures, and numerous equity-accounted associates, including their subsidiaries, over which the company exercises significant influence.

Indian Researchers At Bharati Station in Antarctica Found Ionospheric Secrets That Can Help Satellite-Based Navigation

Indian researchers at Bharati, a permanent Antarctic research station commissioned by India, have traced Ionospheric secrets in the southernmost continent that can help satellite-based navigation.

The Ionosphere is part of Earth's upper atmosphere, between 80 and about 600 km where Extreme UltraViolet (EUV) and x-ray solar radiation ionizes the atoms and molecules thus creating a layer of electrons. The ionosphere is important because it reflects and modifies radio waves used for communication and navigation.

Decade-long ionospheric observations at Bharati station, Antarctica, found a substantial seasonal variation with maximum total electron count (TEC) in equinoctial months followed by the summer and winter. The TEC is a key parameter that is used to understand the effects of ionosphere on satellite-based navigation and communication signals.

India's Bharati Research Station, Antarctica

Such long-term studies can help understand effects of ionosphere on satellite-based navigation and communication systems and to mitigate them.

The ionosphere at polar regions is highly dynamic and acts as a major energy sink for space weather events, and related processes in magnetosphere-ionosphere systems as the magnetic field lines are vertical in this region. The ionospheric observations in Antarctica are few compared to Arctic region due to geographic limitations and limited number of stations.

A team of scientists from the Indian Institute of Geomagnetism (IIG), an autonomous body of the Department of Science and Technology (DST) have examined the long-term seasonal ionospheric observations at Indian Antarctica station Bharati between 2010 and 2022 and also with solar activity following Sun’s 11-year cycle.

Bharati Research Station

It was observed that though there was no sunlight incidence throughout the day in winter months (polar nights) at Bharati station; a diurnal pattern was observed with peak ionospheric density near local noon. The day-night ionospheric density variations were observed regardless of 24 hours of sunlight in summer and complete darkness in winter. The scientists attributed the peak ionization to particle precipitation and transportation of convectional plasma from high latitudes. Also, the maximum ionospheric density in the summer months where 24 hours sunlight is present (polar days), was about twice more than that of polar nights at the Bharati region.

The study was published in the Journal of Polar Science. This kind of long-term studies will help understand effects of ionosphere on satellite-based navigation and communication systems and to mitigate them.

Mahindra Lifespaces Launches First-of-Its-Kind Homes With A Private Energy Park

Mahindra Lifespaces launches second phase of Happinest Palghar - 2

Strengthens footprint in MMR with the launch of the first-of-its-kind homes with a private energy park

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today, announced the launch of the second phase of Mahindra Happinest Palghar - 2. Spanning approximately 1.86 acre, the project consists of 260, 1 BHK and 2 BHK apartments, with carpet areas ranging from 390.51 sq. ft. to 542.06 sq. ft. and 47 retail shops.

A first-of-its-kind residential project in the Mumbai Metropolitan Region (MMR), Mahindra Happinest Palghar -2 offers value homes with an ‘Energy Park’ replete with over 30 carefully selected outdoor activities catering to all age groups. These unique activities exercise all senses; and improve motor skills, strength, balance and muscular coordination. The project adorns Warli art, of the local tribes, and embraces smart design and sustainable construction material. The architecture prioritizes natural light and ventilation through full-length windows, complemented by 75% open spaces. The development integrates a Miyawaki forest, ecological pond, and fitness amenities like jogging tracks and sports facilities. With an emphasis on environmental sustainability, these IGBC-certified homes feature water and power-saving measures, wastewater recycling, and a 250 km radius sourcing strategy for a reduced carbon footprint.

Vimalendra Singh, Chief Business Officer (Residential) - West, Mahindra Lifespace Developers Ltd, said, “As we unveil the last phase of Mahindra Happinest Palghar - 2, we are proud to build upon the success of our presence in MMR. Our strategic focus on creating sustainable, well-connected urban destinations has resonated with residents and enabled us to expand our footprint. This latest offering brings forth our commitment to innovative design, environmental responsibility, and community engagement.”

Nestled amidst the breathtaking landscapes of Palghar, Mahindra Happinest Palghar - 2 is a unique residential development that not only captures the scenic beauty of its surroundings but also offers a host of upcoming infrastructural advantages. Located just 2 km away from the district administrative centre, residents enjoy the convenience of easy access to essential services. Furthermore, the upcoming Kharale road station, also a mere 2 km away, adds to the accessibility, connecting residents to major transportation hubs. Embraced by the Sahyadris, Palghar boasts pristine beaches, cascading waterfalls, serene lakes, historic forts, and lush organic chikoo orchards. Palghar's cooler climate and reduced air pollution, compared to Mumbai, make it an idyllic haven for those seeking a tranquil yet upgraded lifestyle.

About Mahindra Lifespace Developers Ltd

Established in 1994, Mahindra Lifespace Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company’s development footprint spans 34.46 million sq. ft. of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acre of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.

Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands respectively. The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.

The first real estate company in India to have committed to the global Science Based Targets initiative (SBTi), all Mahindra Lifespaces’ projects are certified environment friendly. With a 100% Green portfolio since 2014, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India. Mahindra Lifespaces® is the recipient of over 80 awards for its projects and ESG initiatives.

Learn more about Mahindra Lifespaces® at www.mahindralifespaces.com

Health Ministry Launches MedTech Mitra To Strengthen India's Medical Device Industry

Union Minister, Health & Family Welfare, Dr. Mansukh Mandaviya has, on Monday, inaugurated "MedTech Mitra," a groundbreaking initiative by ICMR Delhi and Central Drugs Standard Control Organisation (CDSCO), supported by Niti Aayog.

MedTech Mitra will hand-hold innovators and help them in getting regulatory approval. This new platform, along with the recent medical devices policy and the production-linked incentive scheme, will together provide a boost to the medical devices sector and encourage domestic manufacturing of these devices, the minister said.

MedTech Mitra streamlines MedTech R&D with preclinical & clinical support, collaboration initiatives, & funding opportunities. It is a primary step towards building a robust, self-reliant ecosystem for affordable & accessible healthcare in India.

Dr. Mansukh Mandaviya said, "MedTech Mitra is a platform that will help the young talents of the country by holding their hands and giving them final shape to their research, knowledge, logic and help them in getting regulatory approval."

"The medical devices sector is an essential and integral constituent of India’s healthcare sector. Pursuing the vision of Viksit Bharat, India is taking a holistic approach to health with a vision to transform the health landscape in the country by 2047, " added Dr. Mandaviya.

MedTech Mitra will empower emerging start-ups and ensure ease of innovation, ease of doing research and development, ease of rendering service in building an Atmanirbhar Bharat.

Highlighting the fast pace of growth in technology, Dr. Mandaviya added “Due to the developments taking place in sectors like Robotics, Artificial Intelligence, Big Data, Virtual Reality, Nano Technology, the medical device sector is changing rapidly today.”

Lauding the initiative and efforts of the innovators and youth, Dr. Mandaviya stated “There is immense power among the innovators, researchers and start-up youth in the country who know how to do Research and Logic Development. If one gets help at the approval stage itself, then wonders can be achieved which will take India miles ahead in becoming Atmanirbhar and achieving the vision of Viksit Bharat”

Underlining the alignment of MedTech Mitra with the medical devices ecosystem as well as overall boosting the growth and development of health domain, Dr. V.K Paul, Member Health, Niti Aayog, said, “This platform will serve to strengthen India’s commitment to Universal Health Coverage, further consolidating reach of healthcare services to the innermost corners of the nation to become an integral aspect of Viksit Bharat.”

Earlier this month, ICMR signed a Memorandum of Agreement with AcSIR (Academy of Scientific and Innovative Research) for a new faculty of "Medical Research" that has been created at AcSIR. This is a significant development towards making AcSIR a multi-disciplinary Research Institution for promotion of cutting-edge research in cross-disciplinary areas. This would provide much needed impetus to the medical research in India.

Adani Group To Invest $1.125 Billion Equity In Adani Green

The Board of AGEL approved issuance of INR 9,350 crore of warrants on a preferential basis to the promoter group at a share price of INR 1,480.75/share, calculated basis SEBI ICDR regulations

Funds to be utilized for deleveraging and accelerated growth capex in AGEL to deliver 45 GW capacity by 2030

This transaction follows successful debt raise of ~USD 1.4 billion earlier in December 2023, and takes the total capital raised to USD 3 billion

Adani Green Energy Ltd (“AGEL”), India’s largest and the one of the world’s leading renewable energy developer, announced that the Board of Directors of AGEL have approved a preferential issuance of warrants to the Promoters of AGEL for a quantum of INR 9,350 crore (equivalent to USD 1,125 million or ~ USD 1.125 Billion) at a per share price of INR 1,480.75/share calculated basis SEBI ICDR regulations. The issuance is subject to the approval of regulatory and statutory authorities as well as the shareholders of the company at the Extraordinary General Meeting (EGM) scheduled on 18 January 2024. The funds shall be utilized for deleveraging and accelerated capital expenditure.

AGEL is now fully equipped to achieve its stated target of 45 GW by 2030, with 20.6 GW locked in capacity, secured land of over 2,00,000 acres (equivalent to over 40 GW of additional capacity) in resource rich areas of India and additional equity infusion of INR 9,350 crore which fully funds this stated target.

"India is on the cusp of becoming a global leader in renewable energy and Adani Green Energy is in the vanguard of this revolution,” said Mr Gautam Adani, Chairman of the Adani Group. “This investment by the Adani family underscores our commitment not only to making our nation’s clean energy dream a reality but also to an equitable energy transition where we phase down traditional power sources while simultaneously phasing up green, affordable alternatives to fuel our accelerating growth and development plans. With the funds infusion, AGEL remains favorably positioned to achieve its accelerated growth trajectory."

Earlier, AGEL announced USD 1.36 billion construction facility (by 8 leading international banks) for construction of 2,167 MW solar power projects in Khavda, Gujarat, the largest solar park in India. In addition, AGEL has announced USD 1.425 billion of equity capital (USD 1.125 billion from preferential issuance by promoters and USD 300 million from TotalEnergies JV), which translates to a capital raise of ~ USD 3 billion.

This demonstrates the deep interest by long term investors, strategic partners, financial institutions, banks coupled with continued promoter commitment, to enable AGEL’s target of adding 45 GW of renewable capacity in India by 2030.

Airtel Forays Into Smart Metering, Partners IntelliSmart for End-to-End IoT Solution for Smart Metering

Airtel Business enters into strategic partnership with IntelliSmart for powering up to 20 million smart meters

To offer end-to-end IoT solution for smart metering, including Cloud, Head End System and Analytics

Indian teleco giant Bharti Airtel has announced that it has formed a strategic partnership to power up to 20 million smart meters with IntelliSmart Infrastructure Private Limited, a leading smart metering and digital solutions provider. This marks Airtel’s foray into smart metering applications such as Head End System, Meter Data Management Systems along with Cloud and Analytics.

This is one of the largest such deal in the smart metering space in the country. It will significantly contribute towards Airtel’s fast-growing IoT deployment across sectors.

Airtel’s IoT proposition includes its proprietary platform the “Airtel IoT Hub” which will help the utility track and monitor these smart meters with advanced analytics while maintaining extremely high reliability augmented with telco grade security. Housed on Airtel’s own cloud network, the IoT hub will allow enterprise users the capability to connect and manage billions of devices and applications in a highly secure and seamless fashion.

Ganesh Lakshminarayanan – CEO, Airtel Business (India) said about the venture, “We have further strengthened our market leadership as the largest IoT enabler in the country. IoT is one of the fastest-growing business segments for Airtel Business and, with this deal, we are now strategically positioned to play a pivotal role in driving the Govt. of India’s vision of digitising 250 million conventional meters to smart meters. As we connect the devices across the country on our platform, we will exponentially grow our current IoT market share of 55.4% (as on Q1 FY23-24).”

Anil Rawal – MD & CEO, Intellismart Infrastructure Pvt. Ltd. had this to say, “India’s smart metering programme is one of the significant steps taken by the government to modernise the power distribution sector. Smart meters are critical building blocks for smart grids and a fundamental enabler of the digitalisation efforts of the power system. As we set forward to implement one of India’s largest portfolios of smart meters, we are relying on some of the most able and potent partners in the sector for various solution elements to support the successful deployment of our Advanced Metering Infrastructure (AMI) solutions. We are confident that the on-boarding of Airtel as a strategic partner will be a significant step towards our goal of creating strong associations to strengthen our infrastructure solution with a resilient and secure cloud-hosted cellular communication network.”

The Government of India has the ambitious vision of replacing 250 million conventional meters with Smart Meters in the next five years as part of the AMI initiative. Airtel IoT aims to play a pivotal role in enabling this vision of the government with its unique capabilities. Power sector digitisation aided by the Government of India's push to usher in transparency and consumer friendly measures in this sector will see innovation such as Smart Meters become commonplace.

Headquartered in India, Airtel is a global communications solutions provider with over 500 Mn customers in 17 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. Airtel’s retail portfolio includes high-speed 4G/5G mobile broadband, Airtel Xstream Fiber that promises speeds up to 1 Gbps with convergence across linear and on-demand entertainment, streaming services spanning music and video, digital payments and financial services. For enterprise customers, Airtel offers a gamut of solutions that includes secure connectivity, cloud and data center services, cyber security, IoT, Ad Tech and cloud-based communication. For more details visit www.airtel.com/

IntelliSmart Infrastructure Private Limited is India’s leading smart metering and digital solutions provider. It is a joint venture of Energy Efficiency Services Limited (EESL) and National Investment and Infrastructure Fund (NIIF), established with the core purpose of becoming the most preferred digital partner of the utilities. Our organisational culture is built on the core values of Integrity, Respect, Innovation and Sustainability, which influence our everyday endeavours and collective practices.

Maruti Suzuki To Set Up 4th Japan-India Institute for Manufacturing (JIM) at Rohtak, Haryana

• Maruti Suzuki to set up its 4th Japan-India Institute for
• Manufacturing (JIM)
• Company’s JIM in Kansala, Rohtak to train over 200 youth annually.
• Five specialized automotive trade courses offered.

Maruti Suzuki India Limited (MSIL) signed a Memorandum of Agreement (MoA) with the Government of Haryana to set up 2nd Japan-India Institute for Manufacturing (JIM), in Haryana, at Kansala, in Rohtak. Spread over 5 acres, the existing ITI Kansala will be upgraded to a JIM with an investment of Rs. 5.8 crore as a CSR activity of the company.

The MoA was signed by Dr. Vivek Aggarwal, Director General, Skill Development & Industrial Training, Government of Haryana and Mr. Rahul Bharti, Executive Director, Corporate Affairs, Maruti Suzuki India Limited.

On this occasion, Mr. Rahul Bharti, Executive Director, Corporate Affairs, Maruti Suzuki India Limited, said, “ The Indian passenger vehicle industry is now world’s third largest and growing. It is our responsibility to prepare human capacity corresponding to manufacturing capacity to meet this growth. Skilling our youth with industry ready skills will help us realize the vision of an Atmanirbhar Bharat. We are glad to partner with the Haryana Government and share the common vision of training and skilling the youth so that they can contribute towards the growth of Haryana.”

Mr. Bharti added: “We have been operating Japan-India Institutes for Manufacturing (JIMs) since 2017. The key feature of the JIM is that the equipment on which the students are trained is almost similar to that in a modern production factory. In addition there is a focus on safety, quality, discipline, punctuality, Kaizen, and other Japanese shop floor practices along with the core curriculum prescribed by the National Council for Vocational Training(NCVT). That helps better employability.”

Located about 16 kms from the upcoming automobile hub Kharkhoda, JIM Kansala will offer extensive career opportunities to the students trained at the ITI.

The government of Haryana has provided the land and building for the JIM, Kansala. Maruti Suzuki will provide equipment, training modules, trained teachers, and will manage this institute for 15 years.

About Japan-India Institute for Manufacturing (JIM)

Japan-India Institute for Manufacturing (JIM) is born out of a collaboration between the Governments of Japan and India to create a pool of skilled workforce for manufacturing in India. It follows from a Memorandum of Cooperation (MoC) signed in 2016 between the Ministry of Economy, Trade and Industry, Government of Japan (METI) and Ministry of Skill Development and Entrepreneurship, Government of India (MSDE), for a “Manufacturing Skill Transfer Promotion Programme” to train 30,000 youths in India over 10 years.

Committed to effectively contributing to Skill Development in India, Maruti Suzuki additionally supports around 50 government ITIs across the country to impart industry-relevant skills to youth and make them employable.

SIDBI Grants ₹ 12.45 Cr to ETO Motors to Deploy 300 Electric 3-Wheelers in Delhi, Hyderabad and Build EV Charging Infrastructure

Small Industries Development Bank of India (SIDBI) has granted INR 12.45CR to ETO Motors to deploy 300 Electric 3-wheelers in Delhi and Hyderabad and also build an EV Charging Infrastructure to support the deployment

The Small Industries Development Bank of India (SIDBI) has granted INR 12.45 CR to ETO Motors to deploy 300 Electric 3-Wheelers (E3W) in Hyderabad and Delhi for first and last-mile passenger connectivity. ETO Motors, as part of the financial support, will also build an EV Charging Infrastructure to support the deployment of 300 E3Ws in Hyderabad and Delhi.

The financial support to ETO Motors is under SIDBI’s Mission 50K-EV4ECO which aims at strengthening the EV ecosystem in India, including uptake for two, three and four-wheelers through direct and indirect lending. The objective of this scheme is to provide access to affordable financing for electric vehicles and to develop charging infrastructure, including battery swapping.

As part of the funding, ETO Motors will deploy three hundred Electric 3-Wheelers, in the cities of Delhi and Hyderabad, over the next 3 months. ETO Motors will also set up 180 Charging points, in the two cities, to support the E3W deployment.

ETO Motors is one of very few EV players that have received financial support from SIDBI under its Mission 50K-EV4ECO scheme. This is a testament to ETO Motors which is India’s largest Electric Mobility as a Service (EMaaS) company. Currently, ETO Motors partners with metro rails like Delhi Metro, Nagpur Metro, Hyderabad Metro, and Pune Metro for passenger first and last mile connectivity. ETO Motors manages over 1,500 E3Ws ( Passenger + Cargo) and has over 1,500+ drivers, including 200 women drivers.

 

Speaking at the occasion of SIDBI choosing ETO Motors under the mission 50K-EV4ECO scheme, Dr. Karthik S. Ponnapula, Director, ETO Motors said, “We are extremely thrilled to have been chosen by SIDBI under its 50K-EV4ECO scheme. This is a testament to our work in the EV/ E3W space as we move forward to help fulfil our country’s EV mission 2030. The financial support will synergize our capabilities in manufacturing state-of-art E3Ws and managing them as a fleet to optimize performance. It will also support our charging infrastructure initiative which is an essential requirement for the growth of EVs in the country.”

The E3Ws will be manufactured in ETO Motors’ state-of-art manufacturing capacity in Jadcherla, Telangana which also includes a modern research and development lab. The E3Ws are manufactured with a focus on safety (only e3W in India with a seatbelt) and technology, incorporating a fully integrated Vehicle Control Unit and IoT connected platform.

About ETO Motors

ETO Motors is India’s largest eMaaS (Electric Mobility as a Service) company with a fleet of over 1500 e3Ws (Electric Three Wheelers) under management.

It has, though its experience and expertise in managing electric fleets, collaborated with multiple ecommerce, grocery, B2B companies - Amazon, Flipkart, Big Basket, Ikea - for their first and last mile connectivity.

It is also driving growth in passenger market through tie-ups with ride aggregators (Uber), last mile delivery solution (Amazon, FlipKart, BigBasket, Gati, DHL, Blue Dart, Bisleri, ShadowFax, BlowHorn, Exide etc ) and with metro rails like Delhi Metro, Nagpur Metro, Hyderabad Metro, Pune Metro, Bengaluru Metro and Chennai Metro for passenger first and last and last mile https://www.facebook.com/photo.php?fbid=473526441463585&set=a.422887116527518&type=3&mibextid=rS40aB7S9Ucbxw6v.

Suzlon Secures A Repeat Order of 193.2 MW from The KP Group in Gujarat

• To supply 92 wind turbines with a rated capacity of 2.1 MW each
• Project with a total installed capacity of 193.2 MW to be completed at Vagra and Vilayat in Bharuch district of Gujarat
• This will be part of Wind-Solar Hybrid and STU's (State Transmission Utility) tariff based project for increasing Renewable Energy contribution in the state
• A project of this size can provide electricity to ~1.25 lakh households and curb ~4.96 lakh tonnes of CO2 emissions per year.

Suzlon Group, India's largest renewable energy solutions provider, has announced a new order win for the development of a 193.2 MW wind power project for The KP Group. This will be part of Wind-Solar Hybrid and STU's (State Transmission Utility) tariff-based project for increasing Renewable Energy contribution in the state of Gujarat. Suzlon will supply 92 units of their S120 - 2.1 MW wind turbine generators (WTGs) with a 140m Hybrid Lattice Tubular (HLT) tower at Vagra and Vilayat in Bharuch district of Gujarat.

Suzlon will execute the project with a scope of supply, supervision, and commissioning. Additionally, Suzlon will also undertake post-commissioning operation and maintenance services.

Girish Tanti, Vice Chairman, Suzlon Group said, "With an extremely conducive policy environment offered by Gujarat, this order from The KP Group is a testament of India Inc's commitment to building a sustainable India. It is heartening to see the private sector step up to the task with such enthusiasm, especially through the C&I segment that will help MSME to become globally competitive by switching to green power."

JP Chalasani, Chief Executive Officer, Suzlon Group said, "We are delighted to announce a repeat order from The KP Group. The KP Group has been a long-standing player in renewable energy and has consistently worked towards increasing renewable energy installations in the country. Suzlon takes pride in the fact that committed customers like The KP Group continue to select our leading technology and comprehensive capabilities throughout the entire wind energy value chain. The power generated from this project will inter-alia serve the Commercial & Industrial (C&I) consumer segment and the people of Gujarat with clean, green, renewable power. Suzlon is committed to partner with increasing number of Indian industries, driving them toward their net-zero targets while powering the nation with sustainable energy."

Every Suzlon turbine is manufactured in the country through a thriving domestic value chain ecosystem which is a testament to our contribution to the vision of an Aatmanirbhar Bharat.

Dr. Farukbhai Gulambhai Patel, Chairman and Managing Director, KP Group said, "This project is in line with our goal to unlock India's renewable energy potential and power the commercial and industrial sectors and the people of Gujarat. As India's leading renewable energy solutions provider with proven technology, Suzlon is the right partner for us. We have had a long and fruitful association with Suzlon in the past using their cost-effective Made-in-India solutions to create an 'Aatmanirbhar Bharat'. With nearly three decades of serving India with renewable energy The KP Group is focussed on increasing its green energy footprint in India helping our customers' power their growth and electricity requirements with clean energy."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

About The KP Group

The KP Group was founded by Dr. Farukbhai Gulambhai Patel in 1994 which is now well recognized group of Gujarat. What started as a logistics service provider in 1994 is now a group with a combined turnover of around Rs. 12 Billion with 1GW commissioned in Renewable projects.

The Group has completed more than 28 years of its successful operations and today consists of several group of companies, all contributing to the fast and robust growth of the group. During the last decade the group has achieved phenomenal growth as a result of diversification into fabrication and galvanizing, renewable energy sector (Solar & Wind) and Telecom infrastructure. Major Group Entities include, KPI Green Energy Limited, KP Energy Limited, KP Green Engineering Pvt Limited, and KP Human Development Foundation.

The Group has leveraged rapid industrialization and economic progress of the country by developing business in renewable energy sector (Solar & Wind). KP Group has successfully completed Initial Public Offer in both Solar and Wind renewable energy. The flagship companies of the KP Group, KPI Green Energy Limited is listed on Main Board Platform BSE Limited and National Stock Exchange of India Limited and KP Energy Limited is listed on Main Board Platform of BSE Limited.

About The Suzlon Group

The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon's world-class manufacturing facilities are spread across 14 locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,000 employees. Suzlon is also India's No. 1 wind energy service company with the largest service portfolio of over 14.3 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.

**Global installations of Suzlon manufactured wind turbine generators. Data as on 30th September 2023

Flipkart’s Service Arm Jeeves Ties With ANAROCK's ApnaComplex To Offer Hassle-Free Home Repair and Maintenance Services in Apartment Societies

• Flipkart Home Services (FHS) on ApnaComplex mobile app is currently live in 6 cities
• Starting with mobile, laptop repairs and appliance installation, Jeeves plans to expand the services to all large appliance repairs and AC cleaning
• Customers will enjoy a cost-effective service guarantee from highly trained technicians

Flipkart’s service arm, Jeeves, has recently announced its collaboration with ApnaComplex, ANAROCK India’s leading society management solution provider, to offer product repair, maintenance and installation service requirements of residents in communities automated by ApnaComplex, through Flipkart Home Services (FHS). This will enable approximately 6.5 lakh residents living across ApnaComplex’s network of 6000 gated communities to have hassle-free access to an extensive range of home services through highly skilled technicians.

Flipkart Home Services (FHS) is a one-stop solution for all repair, installation, cleaning, and maintenance needs. The services currently offered on the ApnaComplex mobile app include installation services of large appliances such as televisions, air conditioners, and furniture, repair of mobiles and laptops and cleaning services. Jeeves intends to broaden the range of services to include maintenance and repair of home appliances.

The residents can avail of these services using the ApnaComplex mobile app across six cities: Bangalore, Chennai, Delhi, Hyderabad, Mumbai, and Pune. These services can be availed irrespective of where the product was purchased.

Speaking about the partnership, Dr. Nipun Sharma, CEO at Jeeves Consumer and F1 Info Solutions & Service, Flipkart Group, said, “We, at Jeeves, are committed to building a comprehensive and customer-centric after-sales and home services network. So far, our offerings have received positive responses from customers using the Flipkart app, and we will continue to deliver cost-effective and reliable services to them. In our pursuit to provide customers with convenient home services that address their essential needs, we are excited to embark on this journey together with ApnaComplex, ANAROCK. The collaboration gives us an opportunity to explore a newer customer touchpoint and reinforces our dedication to delivering exceptional customer experiences both to Flipkart and non-Flipkart customers on ApnaComplex, ANAROCK.”

Shajai Jacob, Managing Director & Country Head, ApnaComplex & ANACITY, ANAROCK, added, “We are thrilled to collaborate with Jeeves, a trusted name in the after-sales services industry. By adding a wide array of home services offered by Jeeves on our platform, we are further providing last mile access to commonly required services by residents and societies using our mobile app, ApnaComplex.

Additionally, as the largest white-label community management solution provider in India & Middle East, this collaboration aligns perfectly with our commitment to enhancing the residential experience of our real estate developer partners and their communities. We are excited about this association because it’s at an opportune time as ApnaComplex accelerates its growth in India by leveraging its real estate developer relationships through its parent company, ANAROCK, and in the Middle East through its overseas arm, ANACITY. This partnership marks another significant milestone in delivering excellence and convenience to our valued societies, management committees and residents."

It was in January 2021, when ANAROCK Group has acquired 100% stake in ApnaComplex from NestAway Technologies for an undisclosed amount. Nestaway sold ApnaComplex to ANAROCK a year after buying the apartment management platform, due to recession post pandemic.

With a "customer-first” philosophy, Jeeves places a strong emphasis on delivering an exceptional customer experience. The wide range of comprehensive after-sales solutions such as repair, maintenance, installation, demo, and VAS (Value-added service), including protection and extended warranties, inbound, outbound, and non-voice customer care services spanning across 40+ product categories, has helped Jeeves scale. Along with convenience and expert service from skilled professionals, customers also get a service guarantee and access to genuine spares at a standard price.

The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.

Started in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India's digital commerce revolution. With a registered customer base of more than 500 million, Flipkart's marketplace offers over 150 million products across 80+ categories. Today, there are over 14 lakh sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation,

Flipkart has created lakhs of jobs in the ecosystem while empowering generations of entrepreneurs and MSMEs. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns, which are customer-centric innovations that have made online shopping more accessible and affordable for millions of Indians.

Mahindra Last Mile Mobility and Attero Join Hands for Li-ion Battery Recycling

India’s No.1 electric 3-wheeler manufacturer, Mahindra Last Mile Mobility Limited (MLMML) - a subsidiary of Mahindra & Mahindra, and Attero, a global leader in Lithium-ion battery recycling as well as e-waste management, have joined forces. This strategic collaboration, focused on effective EV battery recycling, represents a proactive effort to tackle the environmental concerns linked to safe electric vehicle battery disposal.

MLMML, a prominent leader in electric vehicle technologies, offers an extensive selection of Li-ion electric 3-wheelers featuring models such as Treo, Treo Plus, Treo Zor, Treo Yaari, and Zor Grand.

Renowned for its recycling technology, Attero has achieved an outstanding recovery rate for precious materials at its Roorkee facility. The partnership between MLMML and Attero is specifically focused on the sustainability and recycling/reuse of lithium-ion batteries.

Ms. Suman Mishra, MD and CEO of Mahindra Last Mile Mobility Limited, said "As a leader in India’s last mile transportation electrification, we are unwavering in our pursuit of net-zero emissions and sustainable practices. Teaming up with Attero as a preferred partner for Li-ion battery disposal underscores our commitment to provide a pollution-free transportation and drive towards a greener future.”

"Our commitment to a circular economy and green technology resonates with MLMML's vision for a sustainable future. Attero is a pioneer in Li-ion battery disposal and sustainable e-waste. The advanced solutions, backed by years of expertise, ensure that we can recover and recycle electric vehicle batteries with unmatched efficiency.” said Mr. Nitin Gupta, CEO and Co-founder of Attero Recycling.

About Mahindra Last Mile Mobility Limited

Mahindra Last Mile Mobility Limited is committed to the electrification of the mobility landscape, prioritising electric 3- and 4-wheelers. The company offers a wide portfolio of products in various fuel options, including 3-wheelers like Treo, Zor Grand, Alfa, and the 4-wheeler SCV - Jeeto.

Learn more about MLMML on www.mahindralastmilemobility.com / Twitter/LinkedIn (@mahindralmm), and Facebook (@MahindraLastMileMobility).

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

About Attero

Attero Recycling Pvt Ltd is an environmentally conscious end-to-end E-Waste management and Li-ion recycling solution provider in India and is one of the few such recyclers globally. It is the only company in the world to get carbon credits for recycling e-waste and Li-Ion waste. Founded in 2008, by Rohan Gupta and Nitin Gupta, it is India’s only cleantech company that can extract pure critical metals such as Cobalt, Nickel, Lithium, Graphite, Copper, Silver, Gold, Manganese and Aluminium and completing the circular economy value chain. For processing E-Waste and Li-Ion waste, Attero Recycling has a state-of-the-art recycling plant in Roorkee, Uttarakhand. As the first mover in the space, Attero can process and recycle LFP, LCO, LTO, NMC and all other types of Lithium-Ion battery chemistry.

MLMML-Attero join hands for Li-ion battery recycling more info, please visit- www.attero.in