MicroBite, a sister company to the award-winning startup The Phi Factory, revealed on Thursday that it has secured 1.5 million dollars from Vijay Madduri, the co-owner of the ISL champion Hyderabad FC, and other angel investors. The funds received will be used to build a new bioethanol plant utilising the company’s patented technology, which has turned the old batch process of bioethanol production into a continuous process that is more efficient, quicker, and cheaper, according to a statement released here. The business also intends to expand its R&D discoveries in order to apply this technology to other possible applications such as beverages, active pharmaceutical ingredients, and bioplastics.
In India, the bulk of bioethanol production plants uses first-generation batch techniques, which are not only time demanding but also capital intensive. This difficulty is exacerbated by increased demands for personnel, safety, and environmental compliance. With its unique control over the reaction process, the firm can significantly enhance the reaction speed of bio-reactions while simultaneously lowering CAPEX to around 25% of the industry average price.
Praveen Gorakavi, CEO, Microbite said, ‘With the infusion of additional incentives by the Government of India via National Ethanol Blending Programme, the Ethanol market in India is set to grow 250 percent by 2025-26. There is a wide gap between demand and supply, provoking an ‘Ethanol Rush’. A lot of companies are looking to enter the biofuel industry; however, the nature of capital requirements is influencing their possibilities. Economies of scale are hampering the chances of smaller sized players in the industry”.
We have created a technology that not only allows for the establishment of a manufacturing facility at a lower capital cost, but also functions with enhanced chemical kinetics and the capacity to switch raw materials. Mr Praveen continued, “We can convert our fermenters between grain-based and molasses-based operations even while they are running.”
Mr.Vijay Madduri, the leading Investor who co-owns the Hyderabad Football Club that recently turned victorious in Indian Super League (ISL) 2022, said, “BioEthanol will be a major contributor towards environmental sustainability in the future. The Indian Government is rightly promoting the biofuel industry via the Ethanol blending programme, aiming to reduce the country’s carbon footprint. We are confident in our technology and this is just about the right time to enter this industry.”
