Developing technology road maps could help map industrial requirements besides streamlining investments for scaling up emerging technologies
Developing road maps for sectoral decarbonisation will depend on sound research and foresight and coordinated multi-stakeholder engagements. The collaborative efforts of policy makers, industrial companies along with their supply chains, and research institutions can support innovation, scale up promising decarbonisation technologies and help maintain the competitiveness of industries.
Additionally, plugging the gap between industry requirements and the supply provided through university research is essential for industry–academia collaboration, and are the most important means of developing technologies.
Large-scale deployment of best available technologies (BATs) will require a sound financing mechanism
As per NITI Aayog’s India Innovation Index 2021 (2022)5 stated that India’s gross expenditure on R&D at 0.7% of GDP stood lower than the world average of 1.8%. Scaling up financing will require enhanced contributions from the private sector, and utilisation of innovative mechanisms such as blended financing can help mobilise funds for emerging technologies.
Emerson Electric Company partners with Korea Hydrogen Green Energy Network (KOHYGEN) in initiative to set up world's largest hydrogen refuelling station for commercial vehicles at Jeonju-Pyeonghwa, South Korea
F L Smidth forms ‘ECoClay’ partnership to set up an electricity-based clay calcination plant that will help decarbonize the cement industry
UltraTech Cement develops and deploys Artificial Intelligence (AI)-based monitoring and assessment technology, ‘MachineMax’, to optimize equipment performance at its Dalla Cement Works in Sonebhadra district, Uttar Pradesh.
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