PSU NEWS
NRDC invested in the equity of a start-up incubated at IIT
New Delhi: Dr. H. Purushotham, CMD, NRDC informed that the National Research Development Corporation (NRDC), An enterprise under DSIR, Ministry of Science and Technology, Govt of India has signed the Investment Agreement with M/s Acquafront Infrastructure Pvt Ltd. Kanpur (AIPL), Kanpur Start-up on 24th June 2020 for investment in the seed funding round of the company under DSIR seed funding scheme. NRDC acquired 8% of the stake of the company.
The innovative product “Steel integrated Floating Jetty(SIFJ)” is designed as a one-stop solution for all kind of floatation applications by the Start-up. The concept is inspired from “Self-Adjusting Fixed Type Jetty (SAFTJ)” technology for which the M/s Acquafront Infrastrcture Pvt. Ltd., Kanpur holds the patent and received NRDC Innovation Award of the Year 2018. The SIFJ modules are designed for easy transportation and handling and customizable to meet all kinds of floatation requirement of the industry.
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