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Santosh Verma, Promoter Director, My Eco Energy

01 Apr 2014

Santosh Verma, Promoter Director, My Eco Energy talks to Ankita Sharma about the concerns of bio fuel industry. Excerpts.

What are the issues plaguing the bio-fuel industry in India?

This industry is at a nascent stage and the biggest challenge for it is procuring feedstock. There is no proper infrastructure in our country for manufacturing and processing of bio-diesel. Also, there is weak implementation of bio-diesel initiatives.

How do you see the input cost panning out in near future?

We want to inculcate a low-cost biodiesel production model. The input cost is completely dependent on the availability of feedstock. There is certain seasonality in feedstock and its price fluctuates accordingly. To mitigate the higher cost of feedstock during off season, we use difference types of feedstock for production.

What kind of reforms are required in policies to ensure a better future for this industry?

The government has been keen to promote bio-fuel production with its policy measures and R&D support. It announced the National Bio-fuel Policy in September 2008 which aims to meet 20 per cent of India’s diesel demand by 2017. A lot of research work is going on in the third generation production of bio-fuels as well.

What measures have you taken to ensure the financial viability of your plants all through the year? Do you suggest any government effort to aid a solution?

We have adopted multi feedstock production model so that raw material is available to us at a competitive cost. In order to ensure financial viability, we use variants of feedstock as per their availability and thereby cut down on cost of raw materials.

What is the business model at your company? Which sectors does it cater to?

We work on a service-oriented business model involving manufacturing, distribution and marketing of biodiesel. We offer total fleet solutions and bio-diesel bulk supply solutions in our service portfolio. Total fleet solutions gives the greatest savings on fuel bills, and helps gain a vital edge in the business. These are designed to give a comprehensive fleet fuel management solution, to provide clean and renewable fuel solutions, which will help grow the businesses manifold. bio-diesel bulk supply solutions offer the best bulk supply for customers, to have a stockpile ready for cutting edge fuel system. Our services also include storage facility for biodiesel, in case the customers don’t have their own storage facility. The company also offers the best onsite fuel systems.

What is your market target?

Right now our agenda is to cater to Maharashtra. We plan to increase our customer base in Andhra Pradesh, Punjab, Rajasthan and Karnataka, since these states have a favorable state bio-diesel policy. The company will be targeting market segments like road and rail transport, backup power generation (generators, power stations) and agriculture (water pumps, tractors, harvesters etc.). We are also planning to focus on industry sector like construction, manufacturing, mining and infrastructure. Another area that can be under focus is the marine sector.