Indian entrepreneurs walk the talk on climate innovation
The two entrepreneurs - Oorja Energy Engineering Pvt Ltd and Boond Engineering Services Pvt Ltd - have been conferred with WWF-India’s Climate Solver award under the GHG reduction and Energy Access category, respectively. Climate Solver is a global innovation platform that encourages innovations in technology and business models that contribute towards mitigating climate change and enhancing energy access through their economic growth.
The winning innovation by Oorja is its radiant cooling solution that provides for an energy efficient way to meet the otherwise extremely energy intensive cooling demands of the building sector. In addition to lowering energy consumption by about 30 per cent, the system helps reduce noise levels, improve indoor air quality and lower radiating heat from various objects that makes the occupants feel comfortable even at higher room temperatures. It is also estimated that this solution, if replicated at scale, can mitigate 30 million tonnes of GHG emissions by 2025.
Boond emerged as the winner in the energy access category for its microgrid solution for underserved communities in remote villages. It is estimated to reach out to 23 million people by 2025, if replicated at a large scale in the developing world. Boond’s business model enables ease-of-payment through its USB stick based recharge facility allowing households to pay for the energy as per their needs. This innovative solution provides better lighting facility leading to reduced usage of kerosene, better communication through phone charging points and extended light-hours that enhance education and local business.
WWF’s climate solver platform first began in Sweden in 2008 and has now expanded to China, South Africa and India. So far, three Indian climate solvers - GPS Renewables, Clique Developments and Toro -have also featured in the top 100 innovators listed in Sustainia100. Clique Developments was also invited to COP21, Paris for the innovation day to deliver the entrepreneur’s call to climate action representing 120 innovation company CEOs from 26 countries.
WWF-India has been partnering with the Confederation of Indian Industry (CII), New Ventures India, Centre for Innovation Incubation and Entrepreneurship (IIM Ahmedabad), Skyquest Technology Consulting Pvt. Ltd., National Innovation Foundation and Technology Development Board (Department of Science and Technology, Government of India) for the Climate Solver initiative.
Mr. Ravi Singh, SG & CEO, WWF-India said, “Climate Solver platform complements the efforts by the government to provide momentum to the innovation ecosystem in the country. Through this platform, year by year, we have been showcasing some of the best innovations emerging from the SME sector that are scalable, and have tremendous scope for mitigating carbon emissions and enhancing energy access to people living in remote and rural areas.”
The award event was followed by a panel discussion that converged views from multiple stakeholders, including industry associations, incubation centers, financial institutions, academic institutions and climate solver SMEs to discuss and deliberate on the climate innovation scenario in the country and the way forward to accelerate the innovation ecosystem.
Speaking at the event, Mr Stefan Henningsson, Senior Adviser Climate Innovation, Climate & Energy Practice, WWF Sweden said, “Though we see relatively high public research & development expenditure in the Indian market, we do not see as many Indian cleantech entrepreneurs being listed on the stock market. Thus, the need for expansion finance for our Indian entrepreneurs is an issue of Indian competitiveness as well as the global emissions reduction.”
Notes to the Editor:
Ms Divya Joy
Communications Officer, Climate Change & Energy, WWF-India
Ms Rituparna Sengupta
Sr. Manager - Brand, Media and Campaigns, WWF-India