Cosmos Solutions Pvt. Ltd.’s patented new technology to generate more power from engines using micro controllers received a major green signal with a private equity of US$950-million from Linetrust Offshore Ltd. The Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos Energy that another investment of US$300,000,000 is on the anvil to promote research and development in the area of this environment-friendly technology.
At the function to announce the deal, patent owner Nitin Gupta said his company, Cosmos Energy, is eyeing the US$240-billion industry and is prepared to cater to the growing need for green energy. South Africa Parliament Speaker Baleka Mbete said his country was ready to provide 100 acre land to Cosmos Energy in Tshwane Automotive City in Gauteng to put up a manufacturing unit, besides free electricity for five years and a tax holiday for 10 years.