NEW DELHI – In a major move to catalyze the next generation of energy solutions, Petronet LNG Limited has announced the incorporation of a wholly owned subsidiary, MC2 Foundation. Established as a Section 8 company (not-for-profit), the foundation is designed to serve as a premier incubator for start-ups and a hub for cutting-edge research in the energy sector.
The company received its Certificate of Incorporation from the Ministry of Corporate Affairs on April 17, 2026, marking the official start of this strategic initiative.
Accelerating India’s Energy Transition
The MC2 Foundation aims to bridge the gap between academic research and commercial industrial applications. By fostering an ecosystem of entrepreneurship, the foundation will support India’s long-term goals for sustainability and energy self-reliance.
Primary Objectives of the Foundation:
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Startup Incubation: Providing mentorship and resources to early-stage energy ventures.
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Capital Mobilization: Facilitating financial participation and investment for emerging tech.
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Infrastructure: Developing shared facilities and innovation labs for research translation.
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Industry Integration: Connecting entrepreneurs with established industry leaders for real-world testing and scaling.
Leadership & Governance
The foundation boasts a high-powered Board of Directors, drawing from the top echelons of India’s oil and gas public sector:
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Dr. Neeraj Mittal: Chairman, Petronet LNG
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Akshay Kumar Singh: MD & CEO, Petronet LNG
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Sanjay Khanna: CMD, Bharat Petroleum Corporation Limited (BPCL)
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Vikas Kaushal: CMD, Hindustan Petroleum Corporation Limited (HPCL)
Strategic Outlook
The launch of the MC2 Foundation underscores Petronet LNG’s transition toward becoming a facilitator of innovation rather than just an infrastructure provider. By leveraging the expertise of leaders from BPCL and HPCL, the foundation is poised to become a central pillar in India’s drive to modernize its energy landscape through technology and sustainable entrepreneurship.
