Hindustan petroleum Corporation Limited has entered into a strategic partnership with IIT Kanpur-incubated startup Maraal Aerospace, marking a significant advancement in India's clean-energy aerospace sector. The agreement was executed during IEW 2026 at Goa on January 29, 2026, under HPCL's regulatory disclosure requirements.

Investment Details

The partnership involves HPCL's investment through its Startup Support Initiative 'HP Udgam', demonstrating the company's commitment to fostering indigenous innovation in the deep-tech aerospace ecosystem.

Product Development Focus

Maraal Aerospace is developing India's first solar-powered long endurance drone, combining advanced clean-energy propulsion technology with high-efficiency aerodynamics. The investment will accelerate product development, testing, and system validation processes to enable faster product realization and scale-up.

Technical Specifications

Applications and Strategic Impact

The solar-powered drone technology is designed to strengthen India's defense capabilities and support critical civilian applications. The versatile platform addresses multiple operational requirements across various sectors.

Key Applications:

• Border and maritime surveillance operations
• Intelligence, Surveillance, and Reconnaissance (ISR) missions
• Infrastructure and asset inspection
• Disaster management operations

Future Development Roadmap

Maraal Aerospace has outlined an ambitious expansion plan for its clean-energy drone technology, focusing on extended endurance capabilities and advanced platform development.

The partnership reinforces HPCL's strategic commitment to strengthening India's indigenous innovation ecosystem in clean-energy and deep-tech startups, positioning the country as a leader in sustainable aerospace technology development.

Hindustan Petroleum Corporation Limited (HPCL) and Indian Gas Exchange Limited (IGX) have entered into a strategic partnership to enhance access to critical LNG infrastructure in India. The Memorandum of Understanding was signed during India Energy Week 2026 in Goa, marking a significant development in India's natural gas market architecture.

Strategic Partnership Details

The MoU was formalized by key executives from both organizations, with Mr. Anuj Mehrotra, Executive Director – Natural Gas at HPCL, and Mr. Rajesh Kumar Mediratta, Managing Director & CEO of IGX, signing the agreement. This collaboration focuses on strengthening access to regasification infrastructure and deepening market-based participation in India's natural gas ecosystem.

Digital Platform Development

Under this collaboration, IGX will develop a comprehensive digital, market-driven platform designed to facilitate transparent booking of regasification services at HPCL's Chhara LNG Terminal. HPCL will make its storage and regasification capacities available for booking in pre-specified quantities and durations through this innovative platform.

The digital platform represents a significant step toward modernizing India's gas infrastructure access mechanisms. The initiative aims to improve infrastructure utilization, widen market participation, and support the evolution of a more liquid, competitive, and efficient gas market across India.

Leadership Perspectives

Mr. Anuj Mehrotra emphasized that the collaboration with IGX reflects HPCL's commitment to transparent, efficient, and market-oriented access to critical gas infrastructure. He noted that by leveraging digital platforms and market mechanisms, the initiative aims to enhance utilization of the Chhara LNG terminal and accelerate adoption of natural gas across key consuming sectors.

Mr. Rajesh K. Mediratta highlighted that this MoU marks a significant milestone in strengthening India's gas market architecture. He explained that market-based access to regasification capacity will enhance efficiency, broaden participation, and improve price discovery, thereby accelerating the growth of natural gas in India's energy mix.

HPCL's Infrastructure Network

HPCL operates an extensive energy infrastructure network across India, including two oil refineries on the East and West Coasts and equity stakes in HMEL and MRPL joint venture refineries. The company maintains a vast marketing network comprising 24,572 retail outlets and 6,389 LPG distributorships.

Market Impact and Future Outlook

This strategic partnership between HPCL and IGX represents a crucial development in India's natural gas market evolution. The collaboration is expected to enhance market efficiency through improved price discovery mechanisms and broader participation in the gas trading ecosystem. The digital platform will provide market participants with transparent access to regasification services, potentially increasing the overall utilization of India's LNG infrastructure and supporting the country's transition toward cleaner energy sources.