Tata Power and Social Alpha have joined hands to build a unique innovation curation and venture development program ‘Net-Zero Industry Accelerator’ focused on industrial use cases of clean energy transition and industrial decarbonization, contributing towards India’s net-zero targets.
Prioritizing industries
The Net-Zero Industry Accelerator will prioritize industries with the highest carbon footprints and will co-create the innovation ecosystem in partnership with some of the leading industry players in India along with technologies that abate and address air pollution from industrial sources and encourage energy decarbonization, carbon capture, and storage.
Non-carbon ecosystem
Effective energy decarbonization includes shifting the energy mix away from fossil fuels and toward non carbon electricity and other energy carriers such as hydrogen; increasing energy efficiency, improving the energy density of storage while reducing cost, and managing demand for energy. ‘Net-Zero Industry Accelerator’ will identify disruptive, innovative, and impactful technology solutions in sustainable energy and incubate them inthe market journey. In the later stages ‘Net-Zero Industry Accelerator’ will also focus on investment decision-making and prioritize funding and resources for promising innovations impacting multiple industries.
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Climate-tech innovation
Reaching net-zero and enabling a green and resilient future requires not only the rapid deployment of currently available solutions but also encourages innovation in breakthrough technologies. At a time, when countries are seeking to reach climate change objectives and re-ignite economic growth in the post-COVID era, integrating low-carbon innovation support will be of the utmost importance. ‘Net-Zero Industry Accelerator’ has been conceived to fast-track India’s journey towards the net-zero goal, and to assure a robust ecosystem to support a new generation of entrepreneurs as they take disruptive climate-tech innovations from the lab to market.
Redeeming the COP26 pledge
Commenting on the initiative, Dr. Praveer Sinha, CEO & MD, Tata Power said, “The Net Zero Industry Accelerator is a one-of-a-kind initiative that will assist Indian companies in seizing new opportunities as the world moves toward a greener economy through disruptive climate-tech solutions. It would also enhance India’s clean energy ecosystem, generating momentum for the country’s transition to a low-carbon economy and making a significant contribution to the COP26 pledge.”
Reducing CHG emissions
‘Net-Zero Industry Accelerator’ will also create a platform for various industry players to sponsor open innovations challenges for decarbonization and accelerate India’s journey to net-zero by reducing Green House Gas (GHG) emissions significantly. It will encourage innovations that will create new value propositions and business models to replace carbon-intensive ways of doing business and lay the groundwork for the path to net-zero emissions.
Featured photograph shows the Clean Energy International Incubation Centre (CEIIC) set up by Social Alpha with support from Tata Trusts, Department of Biotechnology – Government of India, Biotechnology Industry Research Assistance Council (BIRAC), Tata Power and Tata Power-Delhi Distribution Ltd, for promoting innovations in the energy space. CEIIC is designed to offer complete “lab to market” incubation support to clean energy enterprises which can bring about deep and irreversible social and environmental impact. CEIIC also supports entrepreneurs by providing last-mile connectivity and end-use deployment of successful research outputs. (Photo: Social Alpha)
