Seen one way, trucking company Blue Energy Motors (BEM) is a pioneer of Liquefied Natural Gas (LNG) trucks in India. But squint a bit, and the entire endeavour evokes a sense of déjà vu. 

Because Anirudh Bhuwalka, the founder and CEO of BEM, is no novice to heavy-duty trucking. In fact, back in 2002, his first venture, Asia Motorworks (AMW), snagged a 25% market share in tipper trucks within a decade—only to file for bankruptcy in 2020.

Not one to give up, the MBA graduate from the elite Babson College, Massachusetts, is now back seeking redemption. 

BEM has already raised a total of $50 millionEssarBlue Energy Motors raises $50 mn funding to accelerate Green Trucking in India—the latest round by Zerodha’s co-founder Nikhil Kamath* and textile-trading company Omnitex Industries in September. Other investors include Exponential Ventures, the VC arm of the conglomerate Essar Group and Italian powertrain company FPT Industrial.

Since its founding in 2020, the company has assembled 1,000EntrepreneurBlue Energy Motors Gets USD 30 Mn Funding from Nikhil Kamath and Omnitex Industries trucks. In FY24, its revenue came in at Rs 154 crore—an over 5X jump from the previous year. During the same time, it went from a Rs 25 crore loss to Rs 20 lakh in profit. 

But the twist is, while AMW made and sold diesel-powered trucks, BEM is riding the alternative-fuel bandwagon, making 55-tonne LNG trucks—the heaviest on Indian roads—and beating competitors Ashok Leyland, Tata, and Volvo at it.

A natural question at this point is: why LNG? 

From an emissions point of view, it makes sense. Medium- to heavy-duty trucks account for 45%IEEFAAssessing the Viability of LNG Trucks for India's Clean Goals of emissions in the country, despite constituting just 3% of all vehicles. So, LNG trucks, which reduce emissions by 30%, can further India’s net-zero emissions goal. The fact that LNG is 10–30% cheaper than diesel is the cherry—or rather, cherries—on top.