Neiox Eco Cycle, a deeptech climate startup, has secured a prototyping grant worth Rs 75 lakh from Cochin Shipyard Ltd (CSL) through the USHUS Maritime Innovation Scheme.

The grant amount was presented during a ceremony at IIM-Kozhikode, where the formal agreement was executed with the startup led by CEO Akhil Raj Pottekkat.

As stated by Neiox Eco Cycle, this funding will facilitate the creation of the globe's first environmentally sustainable, non-toxic, carbon-negative coating for marine hulls - an innovative material featuring anti-corrosive and anti-biofouling characteristics. The coating utilizes captured atmospheric pollutants that would typically cause respiratory damage and heart-related health issues. Neiox's technological advancement transforms environmental and health hazards into profitable resources while improving vessel fuel efficiency, decreasing CO2 output, and safeguarding marine environments - showcasing a Kerala-based solution on an international scale.

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Endorsed by Kerala Startup Mission (KSUM) and backed by TBI NIT Calicut and LIVE IIM Kozhikode, Neiox Eco Cycle operates within climate action, public health innovation, and sustainable industrial transformation sectors.

Pottekkat explained that Neiox's operations are founded on the principle that the planet's most significant environmental and health challenges can be converted into profitable opportunities.

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"Our collaboration with CSL reflects Kerala's leadership in sustainable maritime innovation and our shared mission to build cleaner industries and healthier communities," he added.

Attendees at the event included IIM Kozhikode executive director Ashutosh Sarkar, CSL chief general manager (Design) KR Anjana, senior manager Krishna Prasad S, and LIVE IIM Kozhikode senior general manager Lijo P Jose.

Furthermore, marking a notable advancement in eco-friendly maritime technology, Neiox Eco Cycle received a prototyping grant worth Rs 75 lakh from Cochin Shipyard Ltd through its USHUS Maritime Innovation Scheme.

This funding enables the creation of an innovative marine hull coating that is environmentally sustainable, non-hazardous, and carbon-negative. The groundbreaking material utilizes captured atmospheric pollutants, tackling environmental and health issues while providing anti-corrosion and anti-fouling properties. Additionally, it improves fuel economy, decreases CO2 output, and safeguards marine environments, establishing an important 'Kerala model' for worldwide implementation.

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With backing from Kerala Startup Mission, TBI NIT Calicut, and LIVE IIM Kozhikode, Neiox aims to convert environmental challenges into profitable opportunities. CEO Pottekkat highlighted their partnership with CSL as evidence of Kerala's pioneering role in sustainable maritime developments. The event included senior representatives from IIM Kozhikode and CSL, highlighting the joint commitment to promoting environmentally responsible industries and healthier societies.