The Indian Institute of Technology, Hyderabad (IIT-H) and Coal India (CIL) have signed a memorandum of understanding (MoU) to develop clean coal technologies and diversify the use of coal.
The business plans to establish a Clean Coal Energy & Net Zero (CLEANZ) center in Hyderabad. The two organizations will work together to create a state-of-the-art technological readiness level (TRL) for the sustainable use of Indian coal. This aligns with the nation’s pledges to achieve net zero.
Under the auspices of the National Centre for Coal and Energy Research (NaCCER), the present collaboration approach is an R&D endeavor. This is a separate research and development division of CMPDI, CIL’s mine development and consulting division.
A five-year grant of Rs 98 crore has been approved by the CIL administration for IITH to establish a center of excellence. After the first five-year investment from CIL, it is expected that the project would be financially self-sustaining.
The CILs Board approved earlier in July 2024 to concentrate on awarding grants to reputable government agencies and research groups within R&D spending. Enhancing research capacities and creating Centers of Excellence are the goals.
A coal mining corporation called Coal India produces and sells coal. The Government of India owned 63.13% of the business as of December 31, 2024.
The company’s consolidated net profit dropped 17.04% from Rs 10,253.48 crore in Q3 FY24 to Rs 8,505.57 crore in Q3 FY25. In the third quarter of FY25, revenue from operations decreased by 1.03% to Rs 35,779.78 crore from Rs 36,153.97 crore during the same time the previous year.
On the BSE, the counter dropped 0.97% to close at Rs 384.00.
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