Pralhad Joshi, Union minister for Mines has shown a green flag for Five Startups for funding support in the sector of Mining & mineral. He submitted the financial allowance that accounts 6 crore via official letters.

The Five inventive startups and MSMESs chosen for the financial grants are Ashvini Rare Earth Pvt Ltd, Saru Smelting Pvt Ltd, LN Indtech Services Pvt Ltd, Cellark Powertech Pvt Ltd and Caliche Pvt Ltd.

Through the Science and Technology (S&T) Programme, the Indian Ministry of Mines launched S&T-PRISM for fund raise & innovation for startups. Out of 56 startups & MSMEs which have taken part in the programme, these five startups have been chosen according to their achievements & milestones in the sector.

Based in Pune, Ashvini Rare Earth Pvt Ltd has got approved 1.5 crore for the foundation of a pilot plant for extraction of Neodymium - Praseodymium metal from Neodymium-Praseodymium Oxide over Calcio-thermic reduction route for NdFeB Base Permanent Magnet Application.

Based in Meerut, Saru Smelting Pvt Ltd has got approved 1.16 crore for founding a pilot scale plant for a lithium ion-electro fusion reactor for alkali metals.

Similarly, based in Bhubaneswar, LN Indtech Services Pvt Ltd has got granted 40 lakh for the eco-friendly & resourceful generation of Alumina Hydrates through electrolysis of Sodium Carbonate & produce Hydrogen.

In order to set up pilot scale production plant – 25 kg per day of purity battery garde silicon material for lithium ion battery anode, Cellark Powertech Pvt Ltd based in Cuttack has got approved 1.7 crore.

Likewise, Caliche Pvt Ltd based in Shillong has got approved 1.2 crore for the software development called GARBH for the survey on Rare earth metals.

Read More News :

Bharat Startup Registry for inclusive Startup insights, Goyal registers first!

SoftBank breaks the knot with Paytm - Safe Exit from troubled Fintech firm