Breakthrough tracks #1: Clean Tech
What is Clean Tech exactly?
With the Earth getting subdued to grave problems like pollution and global warming, it is the need of the hour to develop and mold a certain kind of technology that would try to resolve such issues. Clean Tech as the name suggests, aims to provide tech that would cater exactly to this need through its efficient methods of sustainable resource management, alternative energy technology, and environmental protection.
Sustainable resource management
Sustainable resource management is one of the key components of clean tech. Sustainable energy refers to the mode of utilization of energy such that it meets the need of the present without compromising the abilities of the future generations to meet their needs. This involves undertaking various programs that promote the use of renewable resources like solar energy, wind energy, geothermal and tidal. Sustainable energy resources can be adequately used to fulfill basic needs like electricity, power transportation, etc. Over time although the prices of sustainable resources are decreasing, effective management is very much required to make sure that sustainable development really does happen.
So the main objective of this sector is to enable technologies to grow that would make use of the renewable energy sources without very much depending on the primary sources. It includes converting non intermittent energy sources to intermittent ones like solar and wind energy.
One good example of such tech is the use of storage technologies like flywheel energy storage, compressed air and hydrogen fuel which could help in storing excess solar and wind energy and release when needed.
Few Startups that are working on Clean tech
1.Azure Tech:
Founded by Inderpreet Wadhwa, Azure is an independent power producer which builds, owns and operates solar power plants in India. It also produces and distributes solar power to commercial, government and utility customers in India. The company has actively been involved in developments in the solar sector since its inception in 2007. The company so far has raised $47.2M from investors in six rounds of funding. The list of key investors in Azure Power includes IFC, Helion Venture Partners, Foundation Capital. Also, the company found a place in the list produced by ET Magazine for 15 startups that appear best placed to enter the $1-billion valuation club.
2. Surya Power magic
Founded by Abhilash Thirupathy and Karthic Ravindranath in 2012, the Coimbatore-based Clean tech startup Surya Power Magic provides solar irrigation solutions. The company has raised nearly $500,000 from angel investor fund Intellecap Impact Investment Network and Infuse Ventures. The company builds well-researched and thoroughly tested products based on the unique requirements of customers. As per 2014 data, it had already installed around 25 just pumps across TamilNadu.
3. GreenObin:
Founded by Saurabh Jain, Utsav Sharma and Nitin Goel in 2009, GreenObin provides independent recycling and waste paper management facilities. Greenobin has made a number of successful tie-ups with corporates including Apollo Tyres, Citibank, Yes Bank, and Standard Chartered Bank and others.
4. Greenway Grameen Infra Pvt.Ltd. :
Founded in 2011 by Neha Juneja and Ankit Mathur, Greenway Grameen Infra Pvt. Ltd. engages in the design, manufacture, and distribution of fuel-efficient, smoke-reducing, affordable home energy appliances for rural consumers in India. It offers smart cook stoves and jumbo stoves. The company sells its products through retail shops including Paytm.
5.GIBBS:
Founded by Arun Shenoy and Mandar Kaprekar in 2009, Green India Building Systems and Services(GIBBS) is a Mumbai-based cleantech startup that specializes in geothermal air-conditioning technologies for cooling. Other than Geothermal Air conditioning Systems, companies also provide ultra energy-efficient innovations like Hot Water Co-generation and LED lighting Systems. In August 2015, another company raised an undisclosed amount of funding from Infuse Ventures, an early-stage venture capital fund focused on clean energy sector in India. The company claims a 50–60% reduction in cost for users, as well as a proportional reduction in carbon footprint for buildings. As of 2015, the company’s technology is used in 400 buildings across India.
Even though such startups exist, this sector is very nascent in its origin and needs a lot of development and advancement in it’s implementation policies. We hope that you would also bring out new innovative ideas for CleanTech in this new edition of Breakthrough.
This article was written by Karthika G Kumar.
