Petronet LNG Limited has officially announced the incorporation of its new wholly-owned subsidiary, MC2 Foundation, established on April 3, 2026. This Section 8 company is designed to act as an institutional mechanism to bolster innovation and sustainable entrepreneurship within the energy sector, focusing on start-up incubation, research translation, and infrastructure development to align with national energy transition priorities.
Strategic Focus on Energy Innovation
The establishment of MC2 Foundation marks a strategic shift for Petronet LNG Limited towards fostering a robust ecosystem for energy-based start-ups. By functioning as a limited-by-guarantee entity, the foundation aims to provide critical support through industry-led mentorship, advisory services, and shared infrastructure. The initiative is specifically tailored to accelerate the commercial scale-up of energy solutions that support India’s long-term sustainability goals.
Leadership and Governance
The company has appointed a board of directors to oversee the foundation’s strategic objectives and policy leadership. The initial leadership team includes:
- Dr. Neeraj Mittal (Chairman, Petronet LNG Limited)
- Shri Akshay Kumar Singh (Managing Director & CEO, Petronet LNG Limited)
- Shri Sanjay Khanna (CMD, Bharat Petroleum Corporation Limited)
- Shri Vikas Kaushal (CMD, Hindustan Petroleum Corporation Limited)
Core Objectives
Beyond incubation, MC2 Foundation is set to facilitate capital mobilization and financial participation for emerging ventures. By bridging the gap between research translation and market readiness, the foundation aims to play a pivotal role in the country’s broader energy landscape, ensuring that new technologies receive the necessary integration into the national infrastructure network.
Source: BSE
