OIL & GAS

Mobile fuel delivery Startup garners seed funding from ONGC

The online doorstep delivery platform for diesel startup, Pepfuels has raised a seed round from ONGC Startup fund. It is done under the Corporate Venture Capital Scheme for the expansion in Andhra Pradesh, Telangana, Tamil Nadu and Karnataka.

Oil and Natural Gas Corporation is an Indian government-owned crude oil and natural gas corporation. The largest Public Sector Undertaking of India in the oil and gas sector, Maharatna ONGC, contributes around 71 percent to Indian domestic production.

Headquartered in Delhi, Pepfuels has introduced India’s first location based fuel delivery system through its patented IoT – RFID based device to help industries, constructions, farm sector, hotels and malls to save on fuel cost, time and prevent pilferage and reduce carbon footprints.

Pepfuels is adding LNG in the 3rd Quarter of the current financial year to provide end to end need of the consumer. Focusing to reduce carbon footprints and adopting Gas based economy, Pepfuels will provide LNG at the Customer’s premises with strategic tie-ups.

According to Kofod and Stephenson well to wheel GHG emissions from LNG trucks are around 19% lower than the ones from diesel trucks and by using bio-LNG it’s possible to reduce GHG emissions up to 67%.

Source
ET Energy World
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