Murugappa Group's TI picks up 50% in thermochemical tech player X2Fuels and Energy

Murugappa Group's engineering company Tube Investments of India Ltd (TII) will pick up a 50% stake in X2Fuels and Energy Pvt Ltd, an early-stage startup incubated at the National Centre for Combustion Research and Development (NCCRD) at IIT-Madras, for a total INR 6.15 crore. X2Fuels & Energy has been engaged in the development of thermochemical technologies for the conversion of solid wastes into storable liquid and solid fuels.