Petronet LNG Limited Establishes Wholly-Owned Subsidiary, MC2 Foundation, to Boost Energy Sector Innovation
Petronet LNG Limited (PLL) has incorporated a new wholly-owned subsidiary, MC2 Foundation. The company announced that MC2 Foundation was formally established as a Section 8, limited by guarantee company, effective on 3rd April 2026. PLL received the Certificate of Incorporation from the Ministry of Corporate Affairs on 17th April 2026.The newly formed entity is designed to act as a dedicated institutional mechanism aimed at strengthening innovation and sustainable entrepreneurship. MC2 Foundation's core objective is to foster, incubate, mentor, accelerate, and promote start-ups specifically across the energy sector. Its activities align with India's national development and energy transition priorities. The foundation’s focus areas include innovation infrastructure and shared facilities, industry-led mentorship and advisory services, research translation and commercial scale-up, capital mobilization and financial participation, ecosystem integration, and policy leadership.
The initial leadership team appointed for MC2 Foundation comprises senior industry experts from both PLL and major oil corporations.
The first directors of MC2 Foundation are:
| Director Name | Title / Role |
|---|---|
| Dr. Neeraj Mittal | Chairman, PLL |
| Shri Akshay Kumar Singh | Managing Director & CEO, PLL |
| Shri Sanjay Khanna | CMD, Bharat Petroleum Corporation Limited |
| Shri Vikas Kaushal | CMD, Hindustan Petroleum Corporation Limited |
PETRONET Stock Price Movement
Today, Petronet LNG Limited shares gained ground, concluding the day's trading session higher at ₹273.22, marking a 0.59% increase. The stock was supported by robust investor interest, with total traded volume reaching 1.80 million shares.Source:
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