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Indian industrial-energy startup Wankel Energy Systems raises US$1 million pre-seed round
Industrial-energy startup Wankel Energy raises US$1 m to roll out steam-expander units that convert waste-steam into power across Indian process industries.
Led by venture firm Shastra VC and strategic angels, Chennai-based spin-out Wankel Energy Systems (incubated at IIT Madras) has secured US$1 million in pre-seed funding to deploy more than 1,000 steam-expander units across industries such as food, dairy, textiles, paper, chemicals and rubber.
The firm’s technology converts wasted industrial steam into electricity, targeting an estimated ₹66,000 crore of losses in Indian process industries.
Initial pilots were run at Hatsun Dairy in Salem and six paid installations are planned this year, supported by commitments for 40+ units from global clients.