Deep-tech climate startup Neiox Eco Cycle has secured a ₹75 lakh prototyping grant from Cochin Shipyard Ltd (CSL) through the USHUS Maritime Innovation Scheme. The grant was officially awarded during a ceremony at IIM-Kozhikode, where CEO Akhil Raj Pottekkat signed the agreement. This funding will aid in developing a groundbreaking sustainable, non-toxic, carbon-negative marine hull coating.
This innovative coating boasts anti-corrosive and anti-biofouling properties and is produced from captured air pollutants, which typically contribute to health issues like lung damage and cardiovascular diseases. Neiox Eco Cycle’s approach not only addresses environmental concerns but also enhances fuel efficiency for ships, reduces CO2 emissions, and protects marine ecosystems. The initiative exemplifies a model of sustainable innovation emerging from Kerala.
Neiox has garnered recognition from the Kerala Startup Mission (KSUM) and receives support from TBI NIT Calicut and LIVE IIM Kozhikode. Pottekkat emphasized the company’s vision of transforming significant environmental and health challenges into economic opportunities. He noted that the partnership with CSL underscores Kerala’s commitment to leading sustainable maritime innovation and fostering healthier communities.
The event featured notable attendees, including IIM Kozhikode Executive Director Dr. Ashutosh Sarkar and CSL officials.
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