The cheque for the amount was handed over at a function at IIM-Kozhikode, where the official agreement was signed with the startup founded by CEO Akhil Raj Pottekkat, a statement by the firm said.
According to Nieox Eco Cycle, the grant will support the development of the world’s first sustainable, non-toxic, carbon-negative marine hull coating – a breakthrough material with anti-corrosive and anti-biofouling properties “The coating is derived from captured air pollutants, which would otherwise contribute to lung damage and cardiovascular diseases. Neiox’s innovation converts climate and health liabilities into economic assets, while enhancing ship’s fuel efficiency, reducing CO2 emissions and protecting marine ecosystems – representing a Kerala model on the global canvas,” the statement said.
Recognised by Kerala Startup Mission (KSUM) and supported by TBI NIT Calicut and LIVE IIM Kozhikode, Neiox Eco Cycle works in the domains of climate action, public health innovation and sustainable industrial transformation.
Pottekkat said Neiox’s activities are based on the belief that the world’s greatest environmental and health liabilities can be transformed into economic assets. “Our collaboration with CSL reflects Kerala’s leadership in sustainable maritime innovation and our shared mission to build cleaner industries and healthier communities,” he added.
Present on the occasion were IIM Kozhikode executive director Ashutosh Sarkar, CSL chief general manager (Design) KR Anjana, senior manager Krishna Prasad S and LIVE IIM Kozhikode senior general manager Lijo P Jose.