HYDERABAD: Numaligarh Refinery Limited's (NRL) iDEATION Clean Energy Hackathon 2024 brought together over 180 innovators from across India to foster breakthroughs in green energy, "reflecting NRL's commitment to achieving Net Zero goals by 2038, well ahead of India's overall target."

The two-day event, organized by the NRL in association with T-Hub Hyderabad, concluded successfully on January 23. NRL iDEATION is the company’s flagship startup program which supports startups and entrepreneurs through grants and equity funding. The program has so far supported around 50 startups from the Northeast region with grant funding of Rs12cr and equity investment in one startup through its SEBI registered CAT-I AIF ‘NRL iDEATION Angel Fund’.

The event showcased an array of innovative ideas ranging from green hydrogen generation and biofuels to energy efficiency and participants included startups, individual innovators, and students.

The highlight of the event was the announcement of 'Velicicore,' a Chennai-based startup, as the winner. Velicicore's work in green hydrogen generation earned them the first prize of Rs 5 lakh.

"At NRL, our commitment goes beyond financial success. We strive for a balance in our triple bottom line approach – focusing on people, the planet, and profit", Nikunja Borthakur, senior chief general manager (corporate affairs) at NRL underlined. "Through events like the NRL iDEATION Hackathon, we aim to foster innovations that not only contribute to our business objectives but also benefit the community and the environment."

"By bringing together bright minds from various sectors, NRL is not only investing in sustainable energy solutions but also in the people who will drive this change", the group shared in a statement, adding that the NRL's proactive approach to achieving its net zero goals through such initiatives is a "bold step towards a greener future."