HCL Launches ClimaForce Fund to Power India's Climate Innovators

BusinessWire India
New Delhi [India], April 30: In a significant move to accelerate India's transition to a low-carbon future, HCL Group, in partnership with the India Climate Collaborative (ICC), has launched the HCL ClimaForce Fund--a INR 25 crore philanthropic initiative aimed at supporting market-ready climate innovations. The Fund will empower over 20 solutions across cooling, buildings, and freight mobility--sectors that are central to India's development and climate goals.

The urgency to deploy low-carbon alternatives in these sectors has never been greater. According to the India Cooling Action Plan, cooling demand in the country is expected to rise eightfold by 2037-38, driven by increasing temperatures and improved living standards. Simultaneously, India's built environment is projected to more than double by 2040, raising concerns around carbon-intensive construction and energy use. In the logistics sector, freight emissions could rise by over 450% by 2050, with road freight accounting for 95% of CO2 emissions in 2020.

The ClimaForce Fund arrives at a critical moment. As India experiences rapid urbanisation and economic growth, demand for sustainable solutions is rising--yet many high-potential innovations face hurdles in scaling. These include limited access to capital, risk-averse industries, and a gap between lab success and real-world deployment.

The Fund will support TRL-7 and above solutions that are market ready. It will also foster collaboration between innovators and industries--such as businesses--whose operational needs align with the Fund's focus on reducing emissions in cooling, construction, and freight mobility.

For the industry, the ClimaForce Fund presents a unique opportunity to integrate cutting-edge, low-carbon technologies into their operations, helping them meet both regulatory requirements and market demands for more sustainable practices. The Fund also provides a pathway for corporates to enhance their climate credentials by adopting and scaling solutions that drive energy efficiency, reduce emissions, and lower operational costs. By partnering with innovators supported by the ClimaForce Fund, the industry can fast-track the deployment of solutions that offer long-term business viability while contributing to India's climate goals. The pilot collaborations offered by the Fund will serve as practical test cases, ensuring that these solutions are optimized for scalability and industry adoption.

Commenting on the announcement of the Fund, Roshni Nadar Malhotra, Chairperson, HCL Group, said, "The HCL ClimaForce Fund marks the beginning of HCL's long-term commitment to climate leadership-anchored in innovation, scale, and decisive action. With this initiative, we are investing in innovators who are creating real solutions for India's low-carbon future and also act as a bridge between innovation and adoption of these solutions, leading to a sustainable future. This is our first dedicated climate initiative, and we intend to make it count through meaningful partnerships and measurable impact."

Added Shloka Nath, CEO of India Climate Collaborative, "We are at a critical juncture where innovation must meet urgency. The HCL ClimaForce Fund is a bold step toward accelerating solutions that can help India grow while staying within planetary boundaries. At the India Climate Collaborative, we believe in the power of partnerships to unlock scale--and this collaboration with HCL Group is about translating climate ambition into real-world impact."

Unlike traditional grants, ClimaForce facilitates innovation in a commercial setting. Selected innovations will be piloted with industry partners, backed by expert technical support. These pilots serve as a proof-of-concept to validate the innovations, which can then be amplified through strategic visibility with investors and industry. It is a model that goes beyond proving concepts to driving scale. The first phase of the Fund will focus on cooling and buildings, while freight mobility solutions will be included in the Fund's second phase starting in 2027.

The call for applications opens on April 30, 2025, and closes on June 10, 2025. The first round of pilots will be announced in October 2025. Open to for-profit enterprises with innovative new products, business models and platforms. Applicants must be at Technology Readiness Level (TRL) 7 or higher, and demonstrate measurable emissions impact, business viability, and readiness for commercial deployment in India. Proposals will be reviewed by a jury of climate specialists, investors, and industry experts, with ongoing mentorship provided to selected grantees.

To learn more about eligibility, application guidelines, and timelines, visit hclclimaforcefund.com
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