Indian Space Research Organisation Chairman and Secretary, Department of Space, Government of India, S Somanath unveiled the carbon reduction initiative of SFO Technologies, the flagship company of the NEST Group on Saturday. Besides planting a sapling at the NEST Hi-Tec Park to mark the occasion, Mr. Somanath interacted with the NeST engineers and management team.

The Carbon Reduction initiative of the NeST Group is in tune with the United Nations’ objective of achieving a 50 percent reduction by 2030 and zero emissions by 2040.

During the address to NeST employees ISRO Chairman said, "The Indian space industry is offering a tremendous opportunity for the private sector in the country as a new area of growth and development, says S Somanath, secretary department of space, chairman, space commission and Indian Space Research Organization. The government of India envisages the space industry in the country to 9-10 billion dollar industry in the next 5-10 years from the current levels of 2 billion dollars. Me. Somanath was speaking after launching the zero emission initiative of the SFO Technologies belonging to the NeST Group at their Hi-Tech Park in Kalamasery on Saturday. Mr. Somanath said 400 private sector companies have benefited from the technology developed by ISRO for its various mission. Companies like SFO Technologies are already working with ISRO on various projects including Chandrayaan, Aditya missions and is well positioned to take further advantage of the new policy initiatives in the space sector by the government of India."

NeST Group Chairman N Jehangir said discussions are on with ISRO for various projects including the Gaganyaan project aiming to carry human beings to space for the first time through the Indian Space Mission.

SFO Technologies and the NeST Group are committed to environmental protection and carbon emission reduction. The impact of climate change is visible in daily life. Responsible global institutions like the UN, EU, and countries including the US are setting mandatory restrictions and encouraging companies to commit to reducing emissions by 50 per cent in 2030 and net zero in 2040. As a socially responsible organization, SFO Technologies Pvt Ltd has signed agreements with multiple stakeholders to reduce emissions as required. The event at the NeST Hi-Tec Park is part of this noble mission.

(With Agency Inputs)