Firms high on green innovation

Jun 07 2011, 01:43 IST
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SummaryInnovation was the buzzword at this year's FE-EVI Green Business Leadership Awards.

Innovation was the buzzword at this year's FE-EVI Green Business Leadership Awards.

Autoboxx Automation Technologies, Indian Renewable Energy Development Agency Limited (IREDA) and HyCa Technologies were chosen under a new category of Green Innovator Honours for solving some of the ecological, infrastructural and equity challenges faced by the country today.

Autoboxx Technologies CEO Magandeep Singh said, “Forums like the FE-EVI awards are educating the consumers about the sustainability issues, climate change and how corporates can make a difference.”

Autoboxx Automation Technologies develops systems that can monitor and manage the energy consumption in buildings by running utilities optimally. These systems can also keep a track of the company personnel and outsourced vendors. The company develops customised automation systems for banks, retailers and telecom providers.

Similarly, HyCa Technologies is an emerging cleantech company. It has a patent-pending reactor, HyCator, which uses energy dissipated by collapsing cavitation bubbles to modulate physical, chemical and biological processes. “Ours is pure science play and we are constantly exploring new ideas. It's very rare for a homegrown company to lead in the sustainability and green energy space,” said Anjan Mukherjee, MD and co-founder, HyCa Technologies.

Besides private companies, IREDA, which was established under the administrative control of the Ministry of New and Renewable Energy (MNRE) to promote, develop and extend financial assistance for renewable energy and energy efficiency projects, was also honoured for its innovative model.

IREDA CMD Debashish Majumdar received the award for the organisation. Also present at the function was IREDA's chief general manager, technical services, AA Khatana. He said: “Compared to banks, we not only see the balance sheets of the companies but also do a detailed analysis of costs and revenue and take a long-term view of benefits of using renewable energy sources to fund the projects. We educate our promoters about the benefits of renewable sources of energy and how costs are saved even though these projects might look risky at the outset.”

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