Press Release, New Delhi/Mumbai, India, 11 July 2023
Xynteo, in partnership with the SED Fund, Technip Energies and Research and Innovation Circle of Hyderabad (RICH), is proud to announce the launch of Energy Leap.
Energy Leap will be Asia's first end-to-end clean hydrogen technology accelerator focused on driving sustainable energy innovation that will power India’s home-grown energy security, economic development, and decarbonisation journey. It will catalyse new technologies and early to mid-stage Indian start-ups across the hydrogen value-chain to commercialise through business modelling, operational, technology, and investment support.
India is committed to reaching net-zero with progressively more Indian companies announcing their own ambitions. Clean hydrogen is an important component of these plans, and the Indian government has launched the National Hydrogen Mission and Green Hydrogen and Ammonia Policy setting a target of domestically producing 5 million tonnes of clean hydrogen by 2030, incentives under the PLI scheme by Ministry of New and Renewable Energy (MNRE) and Solar Energy Corporation of India (SECI). Energy Leap aligns with these initiatives and will play a pivotal role in supporting India's journey towards becoming a clean hydrogen hub.
Vipul Kumar, Senior Partner, Xynteo, said, “Hydrogen holds immense potential to enable industries and economies to achieve net-zero emissions, supporting India's transition to a sustainable energy future. However, the crucial challenges of technology commercialisation and acceleration have hindered the scaling of viable clean hydrogen opportunities thus far. We see Energy Leap as the transformative solution to addressing these challenges, and as part of our mission, we invite diverse industries and cross-sectoral stakeholders to join this programme.”
The aim of Energy Leap is to identify, incubate, and support indigenous solutions across the hydrogen value-chain by driving innovation and facilitating the commercialisation of high-potential technologies. There are two key objectives: first, discovering new technologies to support the hydrogen economy through a national innovation challenge, and second, supporting early to mid-stage Indian start-ups across the hydrogen value-chain.
Vikas Mehta, Executive Director, SED Fund, said, "Energy Leap, aligned with India's mission and vision for energy transition and decarbonisation, provides a timely opportunity to invest in accelerating the journey towards net-zero emissions. By seizing competitive advantage and capitalising on market opportunities, stakeholders can shape a sustainable future while fostering collaboration, supporting innovation, and achieving impactful change in the ecosystem."
The programme has received enthusiastic support from industry leaders and organisations committed to driving sustainable change. Our approach aims to work with technologies across readiness levels, and help companies develop their business and commercialise their ideas with support from stakeholders across the value chain, by leveraging across technology, business, finance and markets.
Davendra Kumar, Managing Director India, Technip Energies said, “In the journey towards scaling clean hydrogen solutions, collaborative efforts play a key role. It is imperative to prioritise cost-effective innovations and accelerate the adoption of hydrogen technologies. Technip Energies is playing a pivotal role to address the sector challenges and is supporting the ecosystem development through Energy Leap.”
Energy Leap will seek to work in partnership with wider hydrogen and energy transition initiatives across the region, and its secretariat and operations will be led by Xynteo.
Xynteo is a purpose-driven strategic advisory firm that helps global organisations, and their leaders, find new ways to grow forward as they tackle the societal and environmental challenges that are too big, too expensive, and too complex to solve alone. We believe that business is a force for good when leaders think long term, work with, not against nature, and use their influence and resources for the many, not the few. For us, this is good growth. Our partnerships and communities include Build Ahead, Energy Leap, Europe Delivers, Leadership Vanguard, Vikaasa and Xynteo Exchange.
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About SED Fund
The SED Fund stands for Sustainability, Equity and Diversity. Our model supports new and innovative programmes that take a solutions-oriented approach towards just transition and climate action by aligning with the Sustainable Development Goals. We do this through a venture philanthropy model, providing seed and scale up funding to organisations or programmes across their life cycle and continuing to support them in their growth and scale-up journey.
Learn more about the Research and Innovation Circle of Hyderabad (RICH) and Technip Energies.
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