Nikhil Kamath invests $20 Mn in GreenLine’s $275 Mn round

GreenLine Mobility Solutions, an Essar Group venture running LNG and electric trucks, has secured a $275 million equity investment. 

The funds will be used to deploy over 10,000 clean-energy trucks and build 100 LNG refuelling stations and EV charging points to speed up the decarbonisation of heavy trucking in India.

This includes a $20 million investment from Zerodha co-founder Nikhil Kamath, GreenLine Mobility said in a press release.

"The logistics industry needs to evolve - faster, cleaner, and smarter... Backing GreenLine is a bet on that future, where sustainability and efficiency go hand in hand. More companies need to take the leap, adopt green tech, and rethink how we move goods at scale. This shift is happening - with or without you," said Nikhil Kamath.

GreenLine operates LNG-powered trucks for long-haul transportation and electric vehicles (EVs) for short-haul operations. Its subsidiary Ultra Gas and Energy  also builds a nationwide network of LNG refuelling stations to support its green logistics solutions.

GreenLine aims to decarbonise India's transportation sector, which contributes nearly 15% of the country's total carbon emission and this  initiative also aims to reduce 1 million tonnes of carbon emissions annually.

According to GreenLine, its LNG-powered trucks reduce carbon dioxide emissions by up to 30%, making them a trusted partner for corporations aiming to achieve their sustainability goals. The company claims to have a fleet of over 650 LNG trucks serving  companies across industries, such as FMCG and ecommerce, metals and mining, cement, oil and gas, and chemicals.