IOCL and IIT Delhi Select Deeptech Startup n0c Tech for Carbon Capture & Storage Solutions
#IOCL #GreenEconomy #CarbonCapture #CCUS #IITDelhi"IOCL is committed to the Net Zero Mission and finds n0c tech's carbon capture and storage technology to be a promising, low-cost, and compact solution to reduce emissions and either store CO2 permanently or utilize it to produce methanol. n0c tech is a reliable and trusted partner for our Net Zero Mission.” - Satya Prakash, Executive Director, IOCL Barauni.
September 2024 : Indian Oil Corporation Limited (IOCL) and the Indian Institute of Technology Delhi (IIT Delhi) have successfully tested several carbon capture and storage (CCS) technologies, ultimately selecting deeptech startup n0c tech, based in California, US, and Delhi, India, for further implementation.
Dr. K.S. Vikrant, Material Science Professor at IIT Delhi, remarked, "Sidhant's startup n0c tech has built patent-pending compact electromechanical system with proprietary solvent to reduce the CapEx and OpEx of carbon capture and storage by over 50 percent and the size of the plant by over 75 percent while capturing 95 percent of carbon dioxide gas from industrial flue gas. It permanently stores the captured CO2 to produce Green Concrete."
n0c tech's Founder and CEO, Sidhant Kumar, who studied Physics at New York University and Electronics Engineering at Delhi Technological University, previously founded Halanx, an AI-powered fintech startup. Halanx, which eliminated security deposits for 24,500 renters, was later acquired by Naxome after partnering with Bajaj Allianz and Munich Re.
Satya Prakash, Executive Director, IOCL Barauni stated, "IOCL is committed to the Net Zero Mission and finds n0c tech's carbon capture and storage technology to be a promising, low-cost, and compact solution to reduce emissions and either store CO2 permanently or utilize it to produce methanol. n0c tech is a reliable and trusted partner for our Net Zero Mission.”
Delhi Technological University's Chemical Lab further verified the carbon capture absorption capacity and energy consumption of n0c tech's proprietary carbon capture solvent. Chemical Engineering Professor Dr. Roli Purwar said, "The solvent of n0c tech regenerates CO2 at 45 percent lower energy consumption compared to MEA at 2.5 GJ per ton CO2 and achieved a carbon removal efficiency of over 93 percent during continuous operation of n0c tech's 1 Ton Per Day CO2 Capture Plant."
n0c tech’s carbon capture solutions have attracted orders from multiple industrial emitters in the US and India. These AI-powered, fully automated, compact plants capture over 90 percent of CO2 emissions at reduced costs. The technology enables industrial emitters to earn revenue through the sale of carbon credits and benefit from tax incentives in the US under the Inflation Reduction Act and European Union carbon regulations, making carbon capture a profitable and sustainable business activity.
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