Cosmos Solutions receives USD 950 million for new eco-friendly energy product

NEWSVOIR
Published Aug 30, 2018, 3:26 pm IST
Updated Aug 30, 2018, 3:26 pm IST
Another investment of USD 300,000,000 is on the anvil to promote research and development in the area of this environment-friendly tech.
Left to Right: Mr. Manoj Todi, Mr. Mahendra Joshi, Mr. Nitin Gupta, Dr. Sailesh Lachu Hiranandani, South Africa Parliament Speaker Mrs. Baleka Mbete, Miss Wendy Wong, Mr. Dato Ramakrishna Nair
 Left to Right: Mr. Manoj Todi, Mr. Mahendra Joshi, Mr. Nitin Gupta, Dr. Sailesh Lachu Hiranandani, South Africa Parliament Speaker Mrs. Baleka Mbete, Miss Wendy Wong, Mr. Dato Ramakrishna Nair

The new technology patented by Cosmos Solutions Pvt. Ltd. to generate more power from engines using micro controllers received a major green signal with a private equity of USD 950 million from Linetrust Offshore Ltd. Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos Energy that another investment of USD 300,000,000 is on the anvil to promote research and development in the area of this environment-friendly technology.

 

Left to Right: Mr. Manoj Todi, Mr. Mahendra Joshi, Mr. Nitin Gupta, Dr. Sailesh Lachu Hiranandani, South Africa Parliament Speaker Mrs. Baleka Mbete, Miss Wendy Wong, Mr. Dato Ramakrishna Nair

At the function to announce the deal in Port Louis, Mauritius, on Wednesday, August 29, patent owner Nitin Gupta said his company Cosmos Energy is eyeing the USD 240-billion industry and is prepared to cater to the growing need for green energy.

Chairman of Linetrust Offshore Limited, operating from Marshall Island and branches across Europe, US, Africa and Asia, Michael Rogers said the disbursal of funds for the project would continue.

The Executive Vice President of Cosmos Energy, Rahul Shah thanked Dr. Sailesh Lachu Hiranandani for the funding and said that the invention would on one hand contribute to the reduction of carbon footprints and on the other hand, create jobs and it is for this reason that governments of India, Zimbabwe, South Africa and Malaysia have approached Cosmos Energy to set up their manufacturing in their countries.

Dr. Sailesh Lachu Hiranandani's efforts in promoting the cause of environment-friendly energy were lauded by Linetrust executives Prasanna Shah and Kalpesh Raygadhi as also by Malaysian Automobile Association's Terrence Siambun, who said he would recommend to his government a plan to offer land and other provisions to Cosmos Energy for setting up a manufacturing  facility in Malaysia and tap the country's potential for skilled labour.

South Africa Parliament Speaker Baleka Mbete said his country was ready to provide 100 acre land to Cosmos Energy in Tshwane Automotive City in Gauteng to put up a manufacturing unit, besides free electricity for five years and a tax holiday for 10 years.

ASEAN directors for Asia, China and Korea, Wendy Wong and Nancie Foo said the investment by Linetrust has opened new vistas of investment for Cosmos Energy, as a slew of proposals has followed, with the blessings of spiritual leader and palmist Sri Raghunath Rajaram Yemul.

Linetrust director Mary Mam and executives Manoj Todi, Sandeep PugaliaMahendra joshi, Mohit Seth and Raghav Kapoor expressed optimism and said they were providing support to a number of enterprises that would be game-changers in the scenario of development and employment.

Scientist Dato Ramakrishna Nair said energy and waste water management were major challenges as well as key to development in the future.

Disclaimer: This article has not been edited by Deccan Chronicle and is taken from a syndicated feed. Photos: NewsVoir.

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Location: India, Delhi, New Delhi




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