(PRNewswire)—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 H2 technology accelerator focused on driving sustainable energy innovation that will power India's home-grown energy security, economic development, and decarbonization journey. It will catalyze new technologies and early to mid-stage Indian start-ups across the H2 value-chain to commercialize through business modeling, operational, technology and investment support.
India is committed to reaching net-zero with progressively more Indian companies announcing their own ambitions. Clean H2 is an important component of these plans, and the Indian government has launched the National H2 Mission and Green H2 and Ammonia Policy setting a target of domestically producing 5 MMt of clean H2 by 2030, incentives under the PLI scheme by the 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 toward becoming a clean H2 hub.
Vipul Kumar, Senior Partner, Xynteo, said, "H2 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 commercialization and acceleration have hindered the scaling of viable clean H2 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 program."
The aim of Energy Leap is to identify, incubate, and support indigenous solutions across the H2 value-chain by driving innovation and facilitating the commercialization of high-potential technologies. There are two key objectives: first, discovering new technologies to support the H2 economy through a national innovation challenge, and second, supporting early to mid-stage Indian start-ups across the H2 value chain.
Vikas Mehta, Executive Director, SED Fund, said, "Energy Leap, aligned with India's mission and vision for energy transition and decarbonization, provides a timely opportunity to invest in accelerating the journey towards net-zero emissions. By seizing competitive advantage and capitalizing on market opportunities, stakeholders can shape a sustainable future while fostering collaboration, supporting innovation and achieving impactful change in the ecosystem."
The program has received enthusiastic support from industry leaders and organizations committed to driving sustainable change. This approach aims to work with technologies across readiness levels and help companies develop their business and commercialize their ideas with support from stakeholders across the value chain, by leveraging expertise across technology, business, finance and markets.
Davendra Kumar, Managing Director India, Technip Energies said, "In the journey towards scaling clean H2 solutions, collaborative efforts play a key role. It is imperative to prioritize cost-effective innovations and accelerate the adoption of H2 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 H2 and energy transition initiatives across the region, and its secretariat and operations will be led by Xynteo.