Ram Charan Company, a renewable energy specialist, Chennai-based chemical trader with a focus on sustainability research and development, has signed a $2.2 billion order from Ghana-based company Masri to supply waste to energy units is expected to generate 300 MW of power in the African country.
Last month, New York-based impact fund TFCC International signed an agreement with Ram Charan to buy a 46 percent stake for $4.14 billion, a valuation of about $9 billion.
The deal is the largest in the domestic chemical sector and one of the largest private equity deals in the industry in the country to date, and it says TFCC’s investment will go into the development of new chemical plants. new energy management system and production of high-storage renewable energy devices made from sodium silicate.
Ram Charan started out as a chemical distributor in 1965, and since 2016 the company has turned to research into the management of end-of-life chemicals, and has since developed products that can handle a large amount of unsorted waste.
It then moved from trading and distributing chemicals to manufacturing compounds and specialty chemicals, as well as testing and research, according to its website. It has a presence all over the country beyond the UK, North America and Japan.
The company is currently led by third-generation entrepreneurs Divyesh and Kaushik Palicha.
Since 2016, Ram Charan has moved into deep technology, end-of-life chemicals that convert unsorted waste into energy and produce next-generation energy storage devices – a key reason for the fund. of the United States moves towards equity partnerships and such a high valuation.
Kaushik Palica, director and part of promoter: “We have signed a $2.2 billion order for Masri Company from Ghana, which is working in the energy and most of the sectors. is renewable energy and this is their first foray into the waste energy business. family of Ram Charan, said in a statement on Friday.
Supply is expected to begin in November 2022, with units set up across Ghana over the next two years. He added: “The agreement and distribution of waste for energy products and services will be done under the Entity One brand name.
“This is our first agreement to supply waste to energy units, and this $2.2 billion order aligns with our overall mission to treat waste,” said Palicha. waste large quantities into energy without leaving any residue.”
He added: “We are confident that our waste of energy products and next-generation energy storage devices will make a significant contribution to Ghana’s environment.
Ram Charan’s waste-to-energy technology allows for no toxic residues and can be used to convert all types of unsorted waste into energy, with no residue released into the environment. , making it the first type of waste globally and also the safest.
Ram Charan is implementing state-of-the-art techniques with a production unit rate of 0% per million units produced and is also one of the first globally to impose end product liability on products. their products.
The technology, developed internally after research since 2016 by the current team at Ram Charan led by Palicha, has been branded as ‘Entity One’ and has a range of products lined up for release. from 2022 to 2024. Production facilities are planned in Tamil Nadu and Gujarat.
Ram Charan started out as a chemical distributor and eventually turned to research based on the management of end of life chemicals. It began researching these projects in 2016, and has since worked on developing products that can handle large amounts of unsorted waste.
https://www.ndtv.com/business/ram-charan-company-bags-2-2-billion-order-from-ghana-firm-to-supply-waste-to-energy-units-2656639 Ram Charan Company $2.2 billion bags order from Ghana company to supply waste to energy units