Supported by the UPES Runway Incubator, this startup promises to transform environmental sustainability by curbing CO₂ emissions, while creating opportunities for sustainable growth.
This startup’s journey from idea to impact highlights the synergies of technical expertise, research-backed innovation, and strategic support from educational institutions. UGreen Technology’s carbon capture technology promises zero waste and presents a new avenue for exploring environmental preservation. Their focus on decarbonization and curbing CO2 emissions is set to go a long way in undoing the impact of global warming that is sending our planet to the tipping point.
Early Support
Before UGreen Technology became the name to watch in carbon capture, it was merely a bold concept penned on paper. Dwivedi, who holds a B.Tech in Petroleum Engineering from UPES, has leveraged his academic background to foster environmentally sustainable solutions. His journey was notably catalyzed by the UPES Runway Incubator — a crucial early believer in UGreen’s potential.
The incubator’s commitment went beyond mere funding; it furnished essential resources, mentorship, and access to high-tech labs that transformed Dwivedi’s sketches into tangible innovation. This robust support system was instrumental in launching India’s first carbon capture pilot for the exploration and production (E&P) sector.
Pioneering Projects and Products
UGreen Technology’s flagship solution, OCOFix, marks a milestone in the carbon capture sector by transitioning seamlessly from R&D phases to real-world deployment. Dwivedi emphasized the real-world impact of the technology as he stated, “We have completed a successful pilot project with Oil India Limited last year, making it the first carbon capture pilot in India’s upstream oil and gas sector. Right now, we’re preparing for a wider commercial rollout. We are in active deployment discussions with top-tier government and private entities.”
UGreen is poised to expand into the biogas sector, recognizing the pressing need for efficient CO₂ removal. Their technology promises scalable, cost-effective solutions fit for these requirements, with an average project ticket size ranging from ₹4 to ₹5 crore.
Towards a Greener Future
UGreen Technology is looking forward to positioning itself for transformative growth over the next five years. The UPES alumna is working on fulfilling his vision with UGreen Technology’s deployment across crucial hard-to-abate sectors, including steel, cement, and power. The introduction of Direct Air Capture (DAC) technology is expected to further elevate UGreen Technology’s impact since it’s certainly a novel approach to extracting CO₂ directly from the atmosphere.
At the same time, industries are gravitating towards sustainability, with the carbon capture and utilization market intertwining with the burgeoning carbon credit ecosystem. UGreen Technology not only aids in industry emissions reduction but also provides the added benefit of acquiring valuable carbon credits, thus incentivizing the adoption of cleaner technologies.
The startup is integrating a financially incentivized sustainability model. As the world watches India’s environmental strides, startups like UGreen need to make more noise and echo their visionary entrepreneurial spirit, backed by strategic institutional support, that can drive widespread change across the nation.
