A mammoth in the fuel sector, the CNG market in India is estimated to produce a revenue of nearly USD 8.68 million units by the year 2026. As more and more cities in India are opting for cleaner fuel, the demand for CNG in the automotive market is increasing ceaselessly. Owing to this growth, some environmentally conscious entrepreneurs have come forth with ingenious CNG products for the market.
Akshay Kashyap, Founder & Managing Director of Greenfuel Energy Solutions, is one such entrepreneur who has successfully met the demands of the market. His company is an eminent CNG products manufacturer/Alternative Gas Fuel System Solutions provider that has consistently innovated amid these times.
Akshay is driven by the goal of metamorphosing the Indian renewable energy scene. He envisions a greener automotive sector that emphasizes sustainability and innovation.
From brand versatility to personal triumphs, given below are the various elements that’ve shaped Akshay’s story. They serve as a fuel of inspiration for new entrepreneurs who want to make it big in their industry.
An Overview of Akshay’s Company
Greenfuel Energy Solutions is a leading System Solutions provider for Alternative Gas Fuel Systems in the Indian automotive industry. The company caters to the automotive CNG markets of the country. With the company, Akshay seeks to transform the market by providing clean mobility through cleaner fuel options.
The company has a diverse service portfolio that encompasses numerous automotive solutions. In addition to CNG products, it offers:
- E-mobility supportive product solutions like Lithium-Ion batteries
- Solutions for Hydrogen Vehicles & LNG Vehicles
- Automotive Accessories
- Engineering & Design services
- Manufacturing facilities
Greenfuel’s multifarious services have helped it stay ahead of the curve in automotive optimization. It has been a frontrunner in consistently introducing new technology to the market.
Greenfuel’s Inception Story
Greenfuel Energy Solutions was established back in 2006 by Akshay Kashyap. During those days, there were primarily buses that were made by OEMs and they had problems with their fuel systems. I had worked with a company in the USA for 3 years, where I got great exposure to vehicles using CNG systems across the world and was also involved in preparing the safety standards of these components,” he recollects.
Having always been passionate about automobiles and clean mobility, he intensively studied the automotive market. He realized that there was a significant gap in the industry. There was a dire need for international-grade products at a feasible price. To fill this gap, he came up with the idea of Greenfuel Energy Solutions.
For Akshay, the two companies that truly transformed Greenfuel’s journey were Tata Motors and Maruti Suzuki. While Tata Motors gave the company its first break, Maruti Suzuki taught them the importance of quality of culture.
“our company primarily provides high-pressure fueling system fo CNG vehicles to Original Equipment Manufacturers (OEMs) in India and also filling systems to gas station companies”
Akshay on Entrepreneurial Struggles & Work-Life Balance
Like every other entrepreneur, Akshay too had to face many challenges along the way. “I would say my struggle is the same as anyone else’s with the difference of ensuring a better quality of life to all our family of employees who work at Greenfuel,” he says.
Akshay feels that this added pressure was very beneficial, as it always pushed him to grow and enhance his employees’ quality of life.
As far as work-life balance is concerned, he indulges in a daily exercise regime to ward off the stress. “There are no excuses to find the time. I always believe that even the most successful person only has 24Hrs in a day to make a difference. So the important thing is to show up every day and remain focused and give your best at work or your personal time,” he adds.
Views on Employee Satisfaction
Akshay duly stands by Richard Branson’s famous quote that says, “Keep your employees happy and they will take care of the rest.” For him, treating employees with the utmost respect and dignity is an essential aspect for any CEO. He believes that employees are more like a family who make the company what it is. For this very reason, he likes to treat them as his own family members.
“I have always believed in the aforementioned quote. Employee wellbeing, therefore, comes before anything else in our organization,” he affirms.
Greenfuel’s Notable Milestones & CSR Activities
Having been in the industry for more than a decade now, Greenfuel has hit numerous significant milestones. Akshay’s first and fondest achievement, however, was his brand claiming the order of the Tata Marco Polo Low Floor buses from Delhi Government.
The company had also been selected as the key supplier to Maruti Suzuki in 2010. Since then, it has supplied 8,00,000+ products without a single case of product failure/ warranty return.
At present, the company has completed over 1.5 billion kilometers in the field, without a single product malfunction.
In addition to its environmental restoration efforts, the company engages in other CSR activities. The company’s first priority is to try and help those closest to it, i.e., the employees and family. Additionally, it contributes towards initiatives for the education of children and the ones for helping Geriatric care patients.
Vision for the Future
Being a rapidly growing company, Greenfuel is gearing up for some big changes. For starters, the company has aggressive expansion plans in both Gas Fuels and Electric Mobility. Secondly, it will be focusing on innovative solutions for the Indian automotive market.
The brand is also projecting to gain 20% revenue from the global markets by 2025.
A Message for Aspiring Entrepreneurs
Having been through the highs and lows of entrepreneurship, Akshay very well knows the key ingredients for business success. He shares them in this message for our readers: “There is a philosophy in Vedanta that I would like to quote. It’s called the 3C’s of success. What it means is to succeed is to keep the following 3C’s in Mind: Consistency – ensure that your actions are aligned with your thoughts; Concentration – Focus when you are doing something and don’t let your mind wander; Collaboration – ‘We before I’, all great things ever have happened because of teamwork. Align the team with your actions.”