Chennai-based Ram Charan Co has bagged a $700-million deal to supply waste management units to Kafkans Finanz LLC, based in Baku in Azerbaijan. The company will supply and set up waste management units from December 2022, in the industrial areas around Baku in Azerbaijan.
In early December, the company had surprised many by announcing a $4.14-billion investment from the US-based fund TFCC International for 46 per cent equity in Ram Charan. Later on December 5, it signed a deal worth $2.2 billion with Ghana-based Masri Company Ltd to supply its waste-to-energy units to generate about 300 mega watt (MW) of power to the African country.
The company said in a statement that it will build, operate and transfer these high quality waste management units in the developing industrial areas of Azerbaijan to help manage industrial effluents and bring back a significant amount of energy to these industrial areas. The Units when installed will have the capacity to generate upto 200 mega watt (MW) of power initially.
Kafkans is the local partner with Ram Charan, with an experience in logistics, infrastructure, and imports to Azerbaijan. Azerbaijan, a developing country located on the old Silk Road, is a developing Nation, and the provision of this technology will provide immense support to the industrial growth in the region, it said. Ram Charan’s technology includes environment to energy management systems and renewable energy devices with high storage capacity made from sodium silicate.
“Through these agreements we hope to rapidly scale up our technologies offerings in the waste to energy field that will help the environment in a significant manner. The technology used by Ram Charan allows for zero toxic residue, and can be used to convert all types of unsegregated of waste into energy, with zero residue to the environment, making it the first of its kind globally and also the safest,” said Chris Curtis, Chairman, TFCC International.
“Funds like Engine No. 1 are leading the environment space with relevant investments, and showing the path for global investment managers to look at such opportunities with interest, and the scope to grow scale,” he added.
Ram Charan is implementing modern techniques considering a zero part per million production unit, and also claims to be amongst the first globally to set up End Product Responsibility for their products. The technology, developed in-house after research from 2016 by the current team at Ram Charan has been branded under the name Entity 1, and has a slew of products lined up for release from 2022 till 2024. The company has planned manufacturing facilities in India, which are planned in the state of Tamil Nadu and Gujarat.