Neiox secures ₹30-lakh funding for climate tech innovation

Pioneering climate tech company Neiox Eco Cycle has won a grant of ₹30 lakh from Cochin Shipyard Limited (CSL) under a maritime programme, accelerating the start-up’s mission towards developing innovative solutions for recovering and converting industrial pollutants and waste into valuable resources.

A press release said that the award, instituted under the CSL-supported USHUS Maritime Startup Funding programme in association with the Laboratory for Innovation, Venturing, and Entrepreneurship (LIVE) at the Indian Institute of Management-Kozhikode (IIM-K), was presented at an event held on the campus.

Incorporated in August this year, Neiox Eco Cycle’s work directly contributes to a sustainable and circular economy, while also aligning with the UN Sustainable Development Goals (SDGs).

While its founder Akhil Raj Pottekkat is an environmental sustainability entrepreneur with over a decade of industry experience, Neiox Eco Cycle is incubated at the Technology Business Incubator (TBI) of the National Institute of Technology- Calicut.

“The programme is a testament to our commitment to developing sustainable and impactful solutions. Our work aligns closely with the UN SDGs. We will continue making strides toward a sustainable future,” said Mr. Pottekkat

He had an earlier tenure in pigment manufacturing, where he witnessed the environmental impact of industrial waste. Motivated to combat climate change, the youngster embarked on a four-year journey to develop solutions that transform pollutants into resources, ultimately establishing Neiox Eco Cycle.

The co-founders at Neiox comprise Dr. Sajith V. (chief technology officer), Hemalatha Ramachandran (vice president), and Ektha V. (chief operating officer), who bring expertise in sustainable materials and environmental engineering. Neiox also benefits from a robust mentorship network.

Published - November 16, 2024 12:02 am IST