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Unveils 15-year vision to build Reliance as one of the world’s leading new energy and new materials platform company

Mumbai, NFAPost: Reinforcing its commitment towards startup ecosystem in India, Reliance Industries Chairman said the company has given very special place in its heart for start-ups.

Speaking at the company’s Annual General Meeting, Mukesh Ambani said the journey of Jio thus far and its road ahead is possible because of the talented and passionate people who are part of the Jio Family.

“And in this family, we count our employees, our strategic partners, our technology partners, our channel partners…
and the many start-ups who have partnered with us. Just a few decades back, Reliance itself was a startup,” he said. 

Speaking to the shareholders, Reliance Industries Chairman Mukesh Ambani said as a less-than 4 years old company, JIO is still very much a start-up.

“As such we have a very special place in our heart for startups whom we consider our brothers-in-arms. I believe that there is no better partner for Indian start-ups than JIO,” said Mukesh Ambani. 

The company has come up with a strategy to support startup ecosystem across the country and he said JIO is well-positioned to help Indian start-ups in a number of ways.

“Whether it be in technology development, product development, distribution, market access or even scale-up
capital. We are ready to integrate them into our roadmap and to help them reach their full potential,” said Mukesh Ambani. 

He reinforced the fact that JIO believes that the partnership with startups would be the true measure of success for Jio and it will create a mighty Knowledge Coalition that solves Indian problems and opens the doors for many more companies from India to step successfully on to the global stage.

Transformation of RIL

Mukesh Ambani also made it clear the transformation of the company that will drive our progress towards a cleaner planet for a safer humanity.

“This can be achieved by making CO as a recyclable resource, rather than treating it as an emitted waste. While Reliance will remain a user of crude oil and natural gas, we are committed to embracing new technologies to convert our CO2 into useful products and chemicals,” he said. 

Photosynthetic biological pathways

Reliance already made substantial progress on photosynthetic biological pathways to convert our CO2 emissions at
Jamnagar into high value proteins, nutraceuticals, advanced materials and fuels. The company will develop next-gen carbon capture and storage technologies.

“We are evaluating novel catalytic and electrochemical transformations to use CO2 as a valuable feedstock. Reliance also has proprietary technology to convert transportation fuels to valuable petrochemical and material building blocks. And at the same time, we will replace transportation fuels with clean electricity and hydrogen,” he said. 

Full stack fuel cell solution

Reliance will combine its strengths in digital, power electronics, advanced materials and electrochemistry to build full stack
electrolyser and fuel cell solutions in India.

“We will build an optimal mix of reliable, clean and affordable energy with hydrogen, wind, solar, fuel cells and battery. Transforming our energy business to tackle one of the biggest challenges before India and the World is our new growth
opportunity. On successful implementation of this strategy, we target to become net carbon-zero by 2035,” he said. 

Reliance Industries Chairman Mukesh Ambani also made it clear the company’s 15-year vision to build Reliance as one of the world’s leading new energy and new materials company.

“It will be a platform company which will execute our vision in a worldwide collaborative model. This model envisages a large coalition of global financial investors, reputed technology partners, and start-ups working on futuristic solutions,” he said. 

The New Energy business based on the principle of Carbon Recycle and Circular Economy is a multi-trillion opportunity for India and the world, he said. 

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