Three Finalists Selected for ArcelorMittal's XCarb® India Accelerator
Following intensive mentorship by IIT Madras's GDC, eight promising start-ups were shortlisted, and three finalists were selected after a two-day site visit to AM/NS India's Hazira steelmaking facility. The finalists include AgroMorph Technosolutions Private Limited, Susstains Engineering Solutions LLP, and UrjanovaC Private Limited, each pioneering innovative CCUS and biochar production technologies.
The finalists' technology and business models are under review by the XCarb™ Innovation Fund Investment Committee, chaired by Aditya Mittal, for potential equity investment or research collaboration. Irina Gorbounova, Head of the XCarb® Innovation Fund, highlighted the programme's success in fostering breakthrough ideas on decarbonisation in India and praised the technical insight provided by IIT Madras.
Raghuttama Rao, CEO of GDC, IIT Madras, expressed excitement about the programme's success and its role in addressing climate change challenges. He emphasized the collaboration's significance in promoting open innovation between the corporate sector and universities in India to tackle technologically challenging problems.