TII acquires a 50 per cent stake in X2Fuels
ECONOMY & POLICY

TII acquires a 50 per cent stake in X2Fuels

Tube Investments of India (TII), a subsidiary of the Murugappa Group, one of India's largest business conglomerates, has acquired 10,753 equity shares in X2Fuels & Energy for a 50 per cent stake valued at Rs 61.5 billion.

According to the company, the investment in the start-up is part of its goal to advance its interests in the energy space as well as its sustainability goals. Dr Vinu R and Dr S Chakravarthy founded X2Fuels, an early-stage start-up incubated at IIT Madras' National Centre for Combustion Research and Development (NCCRD). In 2020, it won third place in the HPCL Green R&D Centre's New Generation Ideation Contest.

The company is developing and deploying thermochemical technologies to convert any solid feedstock, such as lignocellulosic agri-residues, plastics, bio-organic wastes, and municipal solid wastes, into storable liquid and solid fuels that can potentially be integrated into refinery infrastructure.

Also read:
Trident Realty to invest Rs 30 bn in Panchkula township
Danish-Indian study pinpoints 15 offshore wind energy zones

Tube Investments of India (TII), a subsidiary of the Murugappa Group, one of India's largest business conglomerates, has acquired 10,753 equity shares in X2Fuels & Energy for a 50 per cent stake valued at Rs 61.5 billion. According to the company, the investment in the start-up is part of its goal to advance its interests in the energy space as well as its sustainability goals. Dr Vinu R and Dr S Chakravarthy founded X2Fuels, an early-stage start-up incubated at IIT Madras' National Centre for Combustion Research and Development (NCCRD). In 2020, it won third place in the HPCL Green R&D Centre's New Generation Ideation Contest. The company is developing and deploying thermochemical technologies to convert any solid feedstock, such as lignocellulosic agri-residues, plastics, bio-organic wastes, and municipal solid wastes, into storable liquid and solid fuels that can potentially be integrated into refinery infrastructure. Also read: Trident Realty to invest Rs 30 bn in Panchkula township Danish-Indian study pinpoints 15 offshore wind energy zones

Next Story
Infrastructure Urban

India May Have 123 Million EVs on Roads by 2032: Report

India could have one hundred twenty-three million electric vehicles (EVs) on its roads by 2032, as per a joint report by India Energy Storage Alliance (IESA) and Customized Energy Solutions (CES). This surge is attributed to the incentives under the National Electric Vehicle Targets.Between 2019 and 2024, India's on-road lithium-ion EV population rose from 0.35 million to 4.4 million. This growth has been driven by schemes like Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II), which provides demand incentives for various EV types and subsidies for public charging.In ..

Next Story
Technology

Vedanta Aluminium Unveils New Process to Recover Graphite from Waste

On National Technology Day 2025, Vedanta Aluminium, India’s largest aluminium producer, announced that a patent has been granted for its breakthrough technology that enables the recovery of high-purity graphite (>99 per cent) from aluminium industry waste. This achievement exemplifies the spirit of this year’s theme: ‘YANTRA - Yugantar for Advancing New Technology, Research & Acceleration’ - by transforming industrial waste into a strategic national resource. As the nation celebrates National Technology Day, Vedanta Aluminium’s patent is a testament to Indian industry’s..

Next Story
Infrastructure Urban

CABSAT Integrate Middle East and SatExpo 2025 to Start Tomorrow in Dubai

"Three powerhouse events—CABSAT, Integrate Middle East (Integrate ME), and the inaugural SATExpo Middle East—launch tomorrow (May 13) at the Dubai World Trade Centre (DWTC), uniting global innovators across media, broadcast, satellite, and Pro AV to shape tomorrow’s digital landscape.Taking place from May 13 to May 15, the 31st edition of CABSAT will host over 700 brands from the media, technology and entertainment industry, with dedicated international pavilions, including China, France, and Carl Pocknell, Division Head & General Manager- System Solutions & Communications Divisi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?