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%.
In China, the emissions were calculated based on the Tsinghua Fuel Lifecycle Analysis Model, a specifically designed fuel analysis instrument in China where the conclusion was that LNG powered vehicles have 5 to 10% less emissions than gasoline or diesel-powered vehicles.
Pepfuels have their presence in 15 cities in states Haryana, UP, Maharashtra, AP, J&K and have plans to double their presence, expanding their technology and team. They have the highest number of approved vehicles in this space.
We are certain this synergy will yield great results." "This method of procuring mobile fuel services will enable a variety of platforms to grow and establish a strong presence sooner than later. Therefore, this endeavour is going to prove very successful in the near future."
Incepted in 2017, the company is founded by Tikendra Yadav, Sandeep Thakur and Pratik Kathil. Sharing the company's vision Yadav says, "We aim to establish Pepfuels as a one stop solution for their customers which includes various add on services along with fuel in multiple segments. The company is ready to expand their business segments loaded with technology and into dynamic team building to take it to B2C levels." The company is preparing to extend the fuel delivery services in the space of Gas to reduce carbon footprints further for the community.
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( With inputs from ANI )
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