Cold Storages

Solar solutions provider Ecozen is planning to raise USD 75 million (about Rs 620 crore) to fuel its expansion plan in the domestic and international markets, a company official said. Pune-based Ecozen provides cold storage solutions using clean energy. "We are considering raising a private investment of around USD 75 million to fuel growth, partnerships, and customer financing," Ecozen CEO Devendra Gupta said. The amount raised will be used to expand the company's production facility, enhance product lines, and increase market presence in India and abroad, he said. Gupta said Ecozen has a production facility of 1 lakh sq ft and the company is exploring to diversify into new product ranges across different sectors. "In retail, we've launched advanced freezer solutions, and in the mobility sector, we are leveraging our expertise in motor controllers and battery analytics tools to enhance electric vehicle efficiency and support fleet management. We are also exploring retrofitting ..

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Investment in cold storages have seen a sharp increase over recent years, partly due to the government's increased focus on conservation of agricultural produce for better shelf life and a higher return for farmers, by selling their produce in the lean supply season.Data compiled by the Union ministry of food processing showed the government approved 93 projects worth around Rs 28.3 billion in calendar year 2017, compared to three projects with an investment commitment of nearly Rs 0.6 bn the previous year.In January-February this year, 14 projects worth Rs 3.3 bn have been approved. The sharp increase, in number of projects and investment commitment, indicates investors' growing confidence here on higher return. Still, even this pace is insufficient to meet the requirement. An estimated 30 per cent of horticultural output is lost due to poor post-harvest management, lack of cold storage facilities and lack of connectivity between farmers and consumers."Nevertheless, we have started ..

Only 10 per cent vegetables and fruits could be processed at present due to lack of cold storages, he said