Reliance Goes Green, Hunts For Startups To Boost Waste Management

Reliance Goes Green, Hunts For Startups To Boost Waste Management

SUMMARY

The company is the largest raw material producers

RIL plans to expand its recycling capacity from 2.2 Bn Bottles to 5 Bn

It's looking for startups to build a model for itself

Reliance Industries is planning to go green by supporting startups, both nationally and internationally, who have figured out waste management. Mukesh Ambani’s company plans to make its waste-to-energy and circular economy initiative much more effective.

“We are looking to fund and are scouting around for all technology available for waste segregation, recycling and waste to energy. We are thinking about the bets we should be making in this regard,” said COO of petrochemicals at RIL (Reliance Industries Limited) Vipul Shah told Mint.

Till now, RIL has received applications from hundreds of startups but said that they are still looking for a “scalable model” that can be replicated. The company plans on collaborating with startups and develop a jointly owned intellectual property.

RIL has also been a supporter of the greenway of waste management. The company is one of the largest polymer fiber manufacturers, which is a raw material for plastic. However, it is also considered one of the largest recyclers of post-consumer waste in India.

The company has converted 2.2 Bn waste PET bottles into fabric in 2017. Since then, the company has been pushing itself to work more in this regard and expand the capability of its recycling facility up to 5 Bn bottles.

The company has installed at least 150 collection centres across the country to collect these waste bottles for recycling. It has claimed to provide direct and indirect employment to people from economically weak sections. The company also encourages consumers to deposit empty PET bottles in a reverse-vending machine installed in Reliance SMART Stores, railway stations and various other locations.

The company has been known to also reproduce spectacles, park benches and fishing nets out by recycled plastic. It has also partnered with Tetra Pak to promote a “Go Green” initiative. The company also has testing out three plastic-to-roads projects.

The initiative is to look for a solution for disposable non-recyclable plastic waste. In the pilots, the company has already used 1.2 tonnes of plastic waste for constructions of 2.6K sq M of roads in Reliance Corporate Park in Navi Mumbai.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Reliance Goes Green, Hunts For Startups To Boost Waste Management-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Reliance Goes Green, Hunts For Startups To Boost Waste Management-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Reliance Goes Green, Hunts For Startups To Boost Waste Management-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Reliance Goes Green, Hunts For Startups To Boost Waste Management-Inc42 Media
Reliance Goes Green, Hunts For Startups To Boost Waste Management-Inc42 Media
You’re in Good company