The Indian Institute of Petroleum and Energy (IIPE), Visakhapatnam, is set to become home to a Business and Energy Research Park in partnership with Magnivia Ventures. An MoU has been signed between IIPE and Magnivia Ventures to kick-start the project, which carries an estimated investment of Rs 150 crore. This new facility, to be built on IIPE’s permanent campus at Sabbavaram, marks a major step towards strengthening innovation in the energy sector.
The proposed IIPE-Magnivia Business and Energy Research Park will serve as a hub for deep-tech innovation, technology transfer, and the commercialisation of research outcomes in the energy domain.
The park will host advanced R&D labs dedicated to key focus areas such as green hydrogen, next-gen battery materials, and carbon capture. These facilities will support experimentation in hydrogen production and utilisation, development of innovative battery storage systems, and exploration of carbon emission reduction technologies.
A cornerstone of the initiative is workforce development. Specialised training programmes in emerging energy technologies will be offered at the park. Designed in collaboration with industry partners, these programmes will blend classroom learning with hands-on experience and industrial exposure to prepare a skilled talent pool for the evolving energy landscape.
To foster strong academia-industry collaboration, the initiative will introduce industry fellowships for faculty and researchers, offering them the opportunity to work closely with industry professionals. These fellowships will help align research with real-world challenges, facilitating joint projects aimed at practical, scalable solutions.
Once operational, the IIPE-Magnivia Business and Energy Research Park is expected to serve as a catalyst for sustainable energy innovation, helping position Visakhapatnam as a key player in India’s energy transition journey.
Read also: Visakhapatnam to Adopt ‘One Zone-One Constituency’ Model From June
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