Fuel Startups Are Spurring Energy Distribution in India
* Today there are over 700 fuel start-ups successfully operating all across India. All the major oil marketing companies in India such as Indian Oil, Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) have now opened the last Expression of Interest (EOI) of the financial year to invite aspiring fuel entrepreneurs to submit applications for entry in the Fuel distribution business.
The recently introduced policy changes have significantly impacted the entrepreneurship scene in fuel distribution. This has helped revolutionise the industry and increasing fuel accessibility to remote parts of India. In 2020, the Ministry of Petroleum and Natural Gas (MoPNG) amended the Petroleum rules to allow common aspiring individuals to get into fuel retail business through fuel start-ups. This has had a ripple effect on the growth of MSMEs, generated direct and indirect employment, and provided an opportunity for women entrepreneurs to enter the fuel distribution industry. Today there are over 700 fuel start-ups successfully operating all across India. All the major oil marketing companies in India such as Indian Oil, Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) have now opened the last Expression of Interest(EOI) of the financial year to invite aspiring fuel entrepreneurs to submit applications for entry in the fuel distribution business.
Pune-based Repos Energy has been instrumental in incorporation of fuel start-ups. Repos Energy assists new fuel entrepreneurs with all the requirements of the process. They also provide state-of-art Repos mobile petrol pumps to fuel entrepreneurs as needed. For any aspiring individual, there is a simple three- step process to become a fuel entrepreneur. They must form a company and register it as a start-up with DPIIT under the Ministry of Commerce and Industry. Next, they must apply for the Expression of Interest(EOI) with any OMC of their liking. Finally they must get a Mobile Petrol Pump to facilitate doorstep diesel delivery to the end consumers. Repos Energy will guide entrepreneurs through each step of this journey and facilitate each process methodically.
Backed by industry titan Ratan Tata, Repos Energy is on a mission to help the world move toward a carbon-neutral future with the establishment of E-Commerce of energy. With a strong presence across 280+ cities in India, 1500+ Mobile Petrol Pumps, fuel sales of 10 crore Litres (100 Million Litres) to the B2B industry (85% of the diesel market), and carbon emissions savings equivalent to planting 99 lakh trees (through dead mileage), Repos Energy has taken excellent strides towards its goal already.
“Having experienced this unique journey 5 years ago, we are well aware of the challenges and hurdles that new entrepreneurs face while trying to break into the fuel start-up space. With more than half a decade of experience as pioneers in the industry, Repos Energy is well-suited to offer assistance to upcoming fuel entrepreneurs. Additionally, we want to help many more women and first-time entrepreneurs to kickstart their journey in the industry and ultimately create higher service quality and a more efficient fuel distribution system across India” says Aditi Bhosale Walunj, Founder and Chief Visionary Officer, Repos Energy.
“Fuel entrepreneurship has been a game-changer in the downstream fuel distribution industry. The introduction of Mobile Energy Distribution through Fuel Start-ups has given a significant boost to MSMEs, as it has made it easier for them to access fuel, enabling them to focus on their business operations. It has also led to more employment. We are thrilled to further this cause and give more entrepreneurs an amazing opportunity to step into the doorstep fuel distribution industry” adds Chetan Walunj, Founder and Chief Executive Officer, Repos Energy.
Through the Repos platform, more than 10 crore litres of fuel has already been distributed, which has resulted in carbon emissions reduction equivalent to 14.85 million kgs.