Stepone Tech has recently partnered with the Indian Ministry of Energy to establish standards for utilizing renewable fuels in India. The company, which is seeking international investors, is now launching a distribution pilot project with a major local gas station chain.
The innovative technology developed by Stepone Tech has enabled regular gasoline engines to run on ethanol-based biofuel or a blend of ethanol and fossil gasoline. By installing an additional device in vehicles, which costs less than 600 euros in Finland and approximately 300 euros in India, their products significantly reduce greenhouse gas emissions.
Stepone Tech’s collaboration with the Indian Ministry of Energy began when they were invited to an Indian trade fair about a year and a half ago. This exposure sparked significant progress for the company, which has since established guidelines for incorporating ethanol into vehicles.
India aims to increase the use of renewable fuels quickly, making it a promising market for Stepone Tech’s ethanol conversion technology. With around 20 million new combustion engine vehicles sold annually in India and challenges transitioning to electric cars due to cost and infrastructure limitations, Stepone Tech’s technology aligns well with India’s goals.
To expand their production capabilities, Stepone Tech is exploring opportunities in India, including establishing a cooperative company. They are currently in discussions with international capital investors to secure 5–10 million euros for further growth and development. Despite potential competition from other technologies and copycat products, Stepone Tech remains confident in their market position by emphasizing long-term benefits over short-term cost-saving solutions.
