(MENAFN- KNN India) Bhubaneswar, Mar 2 (KNN)
Two promising start-ups fr0m Odisha, LN Indtech Services and Cellark Powertech, have been awarded substantial financial grants by the Union Ministry of Mines.
The grants, totalling Rs 6 crore, were bestowed upon five start-ups nationwide as part of the Science and Technology- Promoting Innovations in Minerals (S&T-PRISM) initiative.
LN Indtech Services, based in Bhubaneswar, and Cellark Powertech, headquartered in Cuttack, emerged as winners among 56 participating start-ups/MSMEs.
The initiative aims to fuel research and innovation in the mining and mineral sector, offering support to budding enterprises like LN Indtech Services and Cellark Powertech.
Union Mines Minister Pralhad Joshi presided over the ceremony held in New Delhi, where the financial grants were officially handed over.
Alongside the financial aid, the selected start-ups/MSMEs will benefit fr0m mentorship, incubation support, and technical advisory assistance throughout their project duration.
LN Indtech Services has been awarded Rs 40 lakh to further their mission of efficient and sustainable production of alumina hydrates through electrolysis of sodium carbonate.
Subash Chandra Mallick, the director of the firm, expressed gratitude for the grant, emphasising their focus on developing indigenous technology to extract valuable products fr0m industrial waste and low-grade minerals.
Cellark Powertech, on the other hand, secured a grant of Rs 1.7 crore to establish pilot-scale production of high-purity battery-grade silicon material for lithium-ion battery anodes.
Ashwani Pandey, co-founder of Cellark Powertech, highlighted the significance of the grant in scaling up their laboratory production to meet the demands of the burgeoning lithium-ion battery market.
These initiatives not only promote innovation but also contribute to the growth of the start-up ecosystem in Odisha.
LN Indtech Services and Cellark Powertech exemplify the state's potential in fostering technological advancements and sustainable solutions in the mineral sector.
With this support fr0m the Union Ministry of Mines, these start-ups are poised to make significant strides in their respective fields, further bolstering India's position as a hub for innovation and entrepreneurship.
(KNN Bureau)
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