Car­bon Masters Bio-CNG Out­let in Malur

Sustainabilitynext - - Front Page -

Car­bon Masters, a Ban­ga­lore based en­ergy start-up, has raised an undis­closed amount from In­dian Angel Net­work and Sangam Ven­tures, a pure play clean tech ven­ture fund. This round was led by IAN in­vestors Na­garaja Prakasam, Mridula Ramesh and Karthik Chan­drasekar from Sangam Ven­tures. Na­garaja Prakasam and Karthik Chan­drasekar will join Car­bon Masters as Board Mem­bers to strengthen the lead­er­ship team.

Es­tab­lished in 2012 Car­bon Masters has pi­o­neered the de­vel­op­ment of India’s first bot­tled bio-CNG brand Car­bon­lites. Launched in 2014, Car­bon­lites is bio-CNG pro­duced from the biomethani­sa­tion of or­ganic waste streams, di­verts waste from land­fills mit­i­gat­ing meth­ane emis­sions, dis­places LPG for com­mer­cial cook­ing, and other fos­sil fu­els for trans­port and backup power gen­er­a­tion.

India is the 4th largest mar­ket for LPG in the world. Car­bon­lites pro­vide India with a lower cost, car­bon neu­tral al­ter­na­tive to the use of fos­sil fu­els. It pro­vides a more sus­tain­able way of man­ag­ing or­ganic waste streams in In­dian cities and makes it a unique car­bon mit­i­ga­tion so­lu­tion.

The com­pany is plan­ning to uti­lize the funds in prod­uct de­vel­op­ments, se­nior, mar­ket­ing and engi­neer­ing level hir­ing and pro­ject de­vel­op­ments.

The com­pany has en­tered into a part­ner­ship agree­ment with the Mahin­dra & Mahin­dra for build­ing large scale waste to en­ergy plants. The first such plant will be op­er­a­tional soon in Malur, Kar­nataka.

Car­bon Masters is an in­no­va­tive en­ergy start up that has suc­cess­fully de­vel­oped India’s first branded Bio-CNG prod­uct for com­mer­cial cook­ing. Car­bon Masters is ex­plor­ing two cap­tive trans­port so­lu­tions – run­ning trucks and a fleet of auto rick­shaws us­ing car­bon neu­tral gas.

Na­garaja Prakasam, IAN in­vestor said: “Car­bon­lites en­ables con­ver­sion of Ban­ga­lore waste to re­new­able en­ergy that can be used both for com­mer­cial cook­ing dis­plac­ing LPG and to power ve­hi­cles. The by-prod­uct of the process also pro­duces or­ganic fer­til­izer which will be sold to Fresh­world farm­ers. Thus, through our as­so­ci­a­tion with the com­pany, we aim to help the com­pany un­lock the vast mar­ket po­ten­tial for its prod­ucts, pos­si­bly on a global scale.”

As an ac­tive angel in­vestor of IAN Im­pact, Naga has lead Uniphore, GoCoOp, Fresh­world, Saa­has, SP Ro­botic, Neu­rosy­nap­tic, Na­tivespe­cial and serves in their boards.

Karthik Chan­drasekar, Founder & CEO, Sangam Cap­i­tal Ad­vi­sors said: “India has barely used its bio­gas en­ergy po­ten­tial and the sec­tor has suf­fered from poor cor­po­rate and in­vestor in­ter­est while Euro­pean mar­kets have sat­u­rated their po­ten­tial. The Car­bon Masters’ team is fo­cused on de­vel­op­ing mar­ket­ing and dis­tri­bu­tion link­ages un­der the Car­bon­Lites brand be­tween pro­duc­ers of bio­gas (and or­ganic-fer­til­izer) - farm­ers, mu­nic­i­pal­i­ties and agro-in­dus­tries (lot of whom flare the gas) and con­sumers for gas and fer­til­izer in both ru­ral and ur­ban mar­kets. We be­lieve they have found the key to in­sti­tu­tion­al­iza­tion of the bio­gas sec­tor in India!” It’s first plant in Malur is ca­pa­ble of pro­duc­ing around 1.5 tons per day ( 547 tons per an­num ).

Car­bon Masters re­cently won two Gov­ern­ment of India ten­ders for their Car­bon­lites in a box prod­uct. Both ten­ders will in­volve waste to power as op­posed to waste to gas for cook­ing.

Car­bon­lites is preferred by chefs for cook­ing costs less in use ver­sus LPG and un­like LPG, or nat­u­ral gas is Car­bon Neu­tral in use. For in­stance, in Ban­ga­lore, there are 6000 restau­rants and Ho­tels con­sum­ing on av­er­age 25kgs of LPG per day (54,750tons per an­num.

The In­dian Angel Net­work is India’s first and world’s largest busi­ness angel net­work with close to 450 mem­bers across the world. Es­tab­lished in 2006 to fos­ter en­trepreneur­ship with prime fo­cus on nur­tur­ing and men­tor­ing new gen­er­a­tion en­trepreneurs, IAN brought the con­cept of angel in­vest­ment to India and has been in­stru­men­tal in bring­ing India’s start-up ecosys­tem on the global map. With in­vestors from 10 coun­tries, IAN’s pres­ence spans 7 lo­ca­tions, which in­cludes cities in India and UK. The net­work is sec­tor ag­nos­tic and has funded star­tups across 17 sec­tors in India and 6 other coun­tries grow­ing global foot­print com­pa­nies. Be­tween 2014 and 2016 IAN has in­vested about over $32 Mil­lion in ap­prox­i­mately 60 deals.

IAN’s port­fo­lio has 120-odd com­pa­nies 15 of which have al­ready given cash ex­its and an­other 12 have raised next round monies. Some of its mar­quee in­vestee com­pa­nies in­clude We­bEn­gage (6x in 15 months of in­vest­ment), Druva (289x over 7 years), Stayzilla (21x over 30 months), Box8 (~3x over 4 years), Con­sure (10x over 40 months) amongst many oth­ers.

Most main­stream In­dian VCs like Se­quoia, Nexus, Ma­trix Part­ners, Te­naya, IDG, Kalaari, USF, Ac­cel, In­ven­tus have done a fol­low on round in IAN’s port­fo­lio com­pa­nies or co-in­vested with it.

From left to right - Kevin Hous­ton, Naga Prakasam, Som Narayan, - Co founders of Car­bon Masters in the back­drop of the gas di­gester

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.