Hindustan Petroleum Corporation Ltd. (HPCL) is playing a key role in strengthening India’s startup ecosystem, having invested Rs. 27 crore to support 28 startups so far, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Saturday.
The investments are part of HPCL’s startup initiative, Udgam, which has raised Rs. 35 crore to back early-stage ventures in the clean and green energy space.
“India’s energy future is being shaped by innovation,” Puri wrote on social media platform X. “HPCL’s ‘Udgam’ initiative is empowering startups working in areas such as green hydrogen, ethanol, smart LPG cylinders, emission control, IoT solutions, cashless technologies, waste-to-energy, and carbon capture.”
He further noted: “Rs.35 crore fund raised. Rs.27 crore invested. 28 startups supported. HPCL is helping build a clean, self-sufficient energy economy.”
Puri also credited the broader impact of Prime Minister Narendra Modi’s Startup India initiative, which he said continues to drive innovation across the country.
India is making significant progress in its Ethanol Blended Petrol (EBP) Programme as it ramps up ethanol production. In the current Ethanol Supply Year (ESY) 2024-25, ethanol blending in petrol reached 19.7 per cent in April, while the cumulative average ethanol blending from November 2024 to April 2025 stood at 18.6 per cent.
