UGreen Technology founder Gaurav Dwivedi claims his startup can capture industrial CO2 and turn it into reusable fuel at a cost far below global competitors. In an interview with CNBC-TV18, he says their pilot with Oil India achieved over 97% capture efficiency in extreme desert heat, and their per-ton cost is around $19 to $20, with potential to drop to $8 to $10 at scale. That compares to $40 to $45 per ton from other players. The company has already clocked over $1 million in orders since starting commercialization this fiscal year. Dwivedi says UGreen targets hard-to-abate sectors like steel, power, cement, and aluminum, which are among the nine sectors India has mandated to decarbonize. He argues that making sustainability profitable is key, not just penalizing emitters. The interview also touches on India's new binding emission targets, the US Inflation Reduction Act, and the EU carbon border tax as policy tailwinds. But Dwivedi notes that compliance alone won't drive change; industries need affordable solutions they can actually adopt.
