Ghana-based firm, Masri Company has awarded waste-to-energy units supply contract to Ram Charan Company PVT Ltd., chemicals trader turned renewable energy specialist, worth US$ 2.2 billion.
Ram Charan Company will supply waste to energy units that will generate 300 Megawatts (MW) of power across the country. The execution of the deal is expected to commence in November 2022, with the setting up of units across Ghana over two years. The agreement and delivery of the waste to energy services will be executed under the brand name ‘Entity One’.
Kaushik Palicha, Director, Ram Charan, said: “In keeping with our mission of processing bulk waste to energy without leaving residue, we have successfully signed our first agreement to supply our units to the Masri Company.”
This agreement comes after TFCC International, a deep impact fund, proposed to invest $4.14 billion for a 46 per cent stake in Ram Charan company, which valued the less-known entity at $9 billion.
The company said the TFCC investment will be made over a period of five to seven years and the first round would be closed by January 2022. The acquisition is for investments in environment to energy management systems and renewable energy devices with high storage capacity made from sodium silicate.
Waste-to-Energy Technology Allows for Zero Toxic Residue
TFCC International, is reported to have justified the high valuation on the grounds that the company had developed a technology to convert unsegregated waste into energy without leaving any residue and has also developed the technology to store the energy for use later.
Since 2016, Ram Charan has moved into deep-tech, end-of-life chemicals converting unsegregated waste into energy and manufacturing new-generation energy storage devices- the primary reason for the American fund to go for such a high valuation and equity partnership.
“We’ve bagged a US$ 2.2 billion order Masri Company from Ghana, which is working in the energy and mostly renewable energy space and this is their first foray into the waste to energy business,” Kaushik Palicha, director at Ram Charan, said.
“We are confident that our waste to energy products and new generation energy storage devices will help the environment of Ghana in a significant manner.”Kaushik Palicha, Director, Ram Charan
Ram Charan’s waste-to-energy technology 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.
The technology, developed by Ram Charan company after research since 2016 under Kaushik Palicha, has placed the company towards a new direction and a more profitable one.
Ram Charan is implementing modern techniques considering a zero part per million production unit, and is also amongst the first globally to set up end product responsibility for their products.
Ram Charan started off as a chemical distributor and recently moved to research based on managing end of life chemicals. The company has a number of products lined up for release from 2022 till 2024.