New Delhi, Apr 10 (PTI) GreenLine Mobility Solutions Ltd, the Essar group venture that operates LNG and electric-powered heavy commercial trucks, announced a USD 275 million equity investment to help deploy over 10,000 LNG and EV trucks as well as set up 100 LNG refuelling stations and EV charging points with a view to accelerate decarbonisation of heavy trucking in India.
This includes a $20 million investment from Nikhil Kamath, marking a major driving force for India’s green logistics transformation, the company said in a statement.
Greenline operates LNG-powered trucks for long-distance transportation and electric vehicles (EVs) for short-distance operations. Its subsidiary Ultra Gas and Energy Ltd is also building a nationwide network of LNG gas stations to support its green logistics solutions.
“Green aims to decarbonize India’s transport sector, and the industry accounts for nearly 15% of the country’s carbon emissions,” the statement said. “This funding will enable the deployment of more than 10,000 LNG gas and electric vehicle trucks, as well as the establishment of a nationwide network built by 100 LNG gas stations, electric vehicle charging stations and battery exchange facilities. This comprehensive initiative aims to reduce carbon emissions by 1 million tons per year.”
India’s road logistics sector has operated over 4 million trucks and is still growing, still one of the country’s most carbon-intensive industries.
“Aligned with the ambitious goal of the Indian government to reduce greenhouse gas emissions, Greenline is committed to converting India’s heavy-duty vehicle (HDV) fleet into LNG and EV trucks to promote cleaner and more sustainable transport. The company offers its logistics services at the same price as diesel engines to ensure customers can reduce brain speech without any cost, with other costs.
Greenline’s LNG-powered trucks cut CO2 emissions by 30%, making it a trusted partner for companies aimed at achieving their sustainability goals.
The company currently has a fleet of 650 LNG trucks serving commodity companies across industries such as FMCG and e-commerce, metals and mining, cement, oil and gas, and chemicals. The fleet has covered more than 38 million kilometers, reducing the emissions of 10,000 tons.
Anshuman Ruia, director of Essar, said: “We are very excited about this game-changing shift in the heavy trucking industry in India. We think this is not only an opportunity to build a green liquidity ecosystem, but also invest in clean energy in the future to power our electric trucks. This comprehensive approach will greatly reduce the energy import energy from energy and help India’s energy imports and provide India with more efforts and can promote the realization of energy, and can work harder and can promote the realization of energy.
“Green has been at the forefront of decarbonizing the heavy cargo operation industry in India and has made significant progress from the outset. With leaders in this field, this investment brings us closer to our vision to change India’s road logistics industry.”
Investor and entrepreneur Nikhil Kamath said: “The logistics industry needs to grow – faster, cleaner and smarter… Supporting green is a bet on that future, sustainability and efficiency go hand in hand. More and more companies need to take a leap forward, adopt green technology, adopt green technology, and adopt how we move goods on a large scale. It has nothing to do with you to move at scale.
