New Delhi : National Research Development Corporation, an Enterprise of Department of Scientific & Industrial Research, Ministry of Science & Technology, Govt. of India, New Delhi (NRDC) has entered into Memorandum of Agreement (MoA) with Indian Oil Corporation Limited, (IOCL) for marketing and transfer of their inventions/innovations, patents, formulations, know-how/processes developed by IOCL R&D Centre and also collection of Premia and Royalties arising from these activities.
The agreement was signed by Dr. H.Purushotham, CMD, NRDC and Dr. SSV Ramakumar, Director (Research & Development), IOCL R&D Centre. The senior officials Dr.S.K.Mazumdar, ED (Refinery), Dr. Deepak Saxena, ED (Lube Technology), Shri TSR Gopalarao, CGM (Technology Promotion & Forecasting), Dr Pankaj Bhatnagar, General Manager (MWO & IPR), IOCL R&D Centre, Shri D.C.Joshi, Chief- Business Development, NRDC and other senior officials from both the organisations were present during the signing ceremony of MOA.
During the signing ceremony Dr. S S V Ramakumar, Director R&D, IOCL said that IOCL is holding more than 600 patents in the oil/energy sector and the partnership with NRDC which is a major technology transfer organization in the country shall enable IOCL to take its patented technologies to market place. While thanking IOCL team for partnering with NRDC, Dr. H. Purushotham, CMD, NRDC said that with the excellent track record of NRDC in commercializing patented innovations, Team NRDC will market these innovations aggressively and showcase some success stories very soon, as the technologies developed by IOCL are more matured, field tested and ready for commercialisation.