Neiox Eco Cycle get ₹75 lakh prototyping grant from Cochin Shipyard
Kochi / October 23, 2025
Kochi, Oct 23: Kerala-based deep-tech climate startup Neiox Eco Cycle has won a prototyping grant of Rs 75 lakh from Cochin Shipyard Limited (CSL) under the USHUS Maritime Innovation Scheme.
The cheque for the amount was handed over at a function at IIM-Kozhikode, where the official agreement was signed with the startup founded by CEO Akhil Raj Pottekkat.
Present on the occasion were IIM Kozhikode Executive Director Dr Ashutosh Sarkar, CSL Chief General Manager (Design) Ms K.R. Anjana, Senior Manager Krishna Prasad S. and LIVE IIM Kozhikode Senior General Manager Lijo P. Jose.
The grant will support the development of the world’s first sustainable, non-toxic, carbon-negative marine hull coating — a breakthrough material with anti-corrosive and anti-biofouling properties. The coating is derived from captured air pollutants, which would otherwise contribute to lung damage and cardiovascular diseases.
Neiox’s innovation converts climate and health liabilities into economic assets, while enhancing ship’s fuel efficiency, reducing CO2 emissions and protecting marine ecosystems — representing a Kerala model on the global canvas.
Recognised by Kerala Startup Mission (KSUM) and supported by TBI NIT Calicut and LIVE IIM Kozhikode, Neiox Eco Cycle works in the domains of climate action, public health innovation and sustainable industrial transformation.
The founding team, besides Pottekkat, who is also CMO pf New Eagle Iron oxides, includes VP Hemalatha Ramachandran (former MD, Keltron, Rtd GM HMT), CTO Dr Sajith V. (Professor and HOD Material Science Engineering, NIT Calicut) and COO Ektha V (Research Scholar, NIT Calicut) — combining academic excellence, industrial expertise and visionary leadership.
Mr Pottekkat said Neiox’s activities are based on the belief that the world’s greatest environmental and health liabilities can be transformed into economic assets. “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.
Through the UHUS Maritime Innovation Scheme, Neiox aims to commercialise its carbon-negative coating technology, positioning Kerala and India as global leaders in sustainable marine materials and climate tech innovation.
ENDS
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