Vasshin Composites, an environmental engineering company on Sunday announced that it has forayed into the Canadian markets with a strategic partnership with Canada’s Alumiceal Company.
The partnership includes a three-year investment cycle pegged at INR 25 Crore to co-locate Vasshin’s technology at the Vancouver facilities of Alumiceal. Vasshin is eyeing an order book of INR 10 Crore this year and with this investment shall be able to see manifold revenue over coming years, the release said.
The bootstrapped start-up is a pioneer in using Pine Needles which are highly flammable and cause destructive forest fires in the Himalayan Region. Converting this bio-mass into tableware, hygiene and furniture create highly negative carbon products. This tableware is sustainable, durable, and anti-microbial and creates an emphasis on the reduction and displacement of plastic from everyday use products.
“We are excited to be partnering with Alumiceal, this opens up the Canadian market for us. The unused, fallen pine needles have re-incarnated into tableware that every household can appreciate,” release told.
With our unique and edgy designs, we are certain we will find feet with the backing of Alumiceal” exclaims Abhinav Talwar, CEO, Vasshin Composites.
Canadian Company, Alumiceal, is a well-known name in the marketplace of decorative foils and its third-largest manufacturer for Sparkling Wine and Beer brands in Canada and the United States. Alumiceal will now extend support to Vasshin Composites to foray into the Canadian and North American markets with their sustainable and anti-microbial tableware.
“We are excited to lead the expansion efforts of Vasshin Composites in our country. We observe tremendous opportunity for sustainable and post-pandemic, anti-microbial products as well and Vasshin’s innovation is need of the hour in tableware space”, Said Vikas Sharma, co-owner of Alumiceal Company.
Vasshin will be showcasing at the prestigious Change NOW 2021 Paris Sustainability Summit (May 27-29) attended by the likes of Prince of Monaco, Prime Minister of Canada, Mayor of Dublin, UN special envoy for Climate Change amongst others, and is one of 300 startups selected from around the world, the release said.