HCL Group Launches ₹25 Crore ClimaForce Fund to Support Climate Innovations in India

New Delhi, May 1, 2025: HCL Group, in collaboration with the India Climate Collaborative (ICC), has launched the HCL ClimaForce Fund—a ₹25 crore philanthropic initiative aimed at supporting market-ready climate innovations in the sectors of cooling, buildings, and freight mobility.

The fund seeks to accelerate the adoption of low-carbon technologies in response to India’s growing environmental challenges. Cooling demand in the country is projected to increase eightfold by 2037–38, while the built environment is expected to more than double by 2040. Freight emissions could rise by over 450% by 2050, with road freight currently contributing 95% of CO₂ emissions in the sector.

Targeting solutions at Technology Readiness Level (TRL) 7 and above, the ClimaForce Fund aims to support over 20 innovations that are ready for commercial deployment. The initiative will also enable partnerships between climate innovators and industry players seeking to integrate sustainable technologies into their operations.

Selected innovations will receive grant capital, technical support, and the opportunity to pilot solutions with industry partners. These pilots will serve as real-world demonstrations to validate the innovations and support future scale-up through investor and industry engagement.

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.”

Shloka Nath, CEO of India Climate Collaborative, added, “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 aims to enable innovation in commercial settings. The fund's first phase will focus on cooling and building innovations, while freight mobility solutions will be included in a second phase set to launch in 2027.

Applications for the ClimaForce Fund are open from April 30 to June 10, 2025. Eligible applicants include for-profit enterprises with TRL-7 or higher technologies that demonstrate emissions impact, business viability, and readiness for deployment in India. Final selections will be made by a jury comprising climate experts, investors, and industry leaders, with mentorship provided to grantees. The first round of pilots is expected to be announced in October 2025.