Shiva Vig, CEO of BioD Energy India, believes that India’s fuel consumption pattern is slowly but surely changing. When he started BioD Energy in 2015, his aim was to convert waste into wealth. Now, he plans to go big by converting used cooking oil (UCO) into biofuel, helping the government save on foreign exchange. Additionally, Vig says it will help the country go green and save people from health hazards.
A young third-generation entrepreneur and first-generation manufacturer, Vig has set up a biodiesel manufacturing plant in Bawal, Haryana, that will convert 100 tonnes of used cooking oil a day into biodiesel. Yet to be formally launched, it is one of its kind facilities in the northern part of the country.
“The idea behind this project is waste management, which will also help in reducing dependency on imported crude oil, fighting pollution, managing illegal discharge of oil into a drainage system that contaminates water and clogs the drainage system. Above all, it will check adulteration in edible oil,” says Vig, who has had a resourceful professional journey of more than 8 years while working in various companies and different sectors like finance and digital marketing. Before starting BioD Energy, he co-founded projects including Jaldi Paisa (Delhi) and bfound (UAE).
BioD Energy believes that biodiesel can prove to be a game changer for the energy security of our country. It is noteworthy that India meets more than 80% of its fuel needs through imports. The domestic crude oil production is able to meet only about 17.9% of the demand, while the rest is met from imported crude. India is the largest consumer of vegetable oil and has a potential to recover 220 crore litre of Used Cooking Oil (UCO) for the production of biodiesel by 2022 through coordinated action.
To achieve the goal, BioD Energy India, as one of the ambitious players in the field, is creating a state-of-the-art collection network for used cooking oil in Delhi-NCR and will soon expand to other parts of India to source raw material. It is working with Food Safety & Standard Authority of India (FSSAI) and Biodiesel Association of India. The company is an active member of both these organisations and a part of the (Repurpose Used Cooking Oil (RUCO) campaign started by FSSAI.
Considering that fossil fuel reserves are depleting along with their impact on the environment, India needs long-term solutions for renewable energy, which is one of the reasons for which BioD Energy has shown the commitment. The new Biofuel Policy is in place to harness the potential and reduce the import dependency of crude oil to meet India’s growing energy demand. It envisages a target of 20% blending of ethanol in petrol by 2030. Vig’s company plans to scale up its production from 100 tonnes a day to 500 tonnes in a short period. The company has acquired technology from China. The same technology can also be used for converting acid oil and animal fat like tallow, a waste product in India, to biodiesel.
Vig says that the potential for used cooking oil collection in Delhi NCR is huge. As per the CARE report, the average consumption of oil in India is 14.4 kg per person per annum. Total consumption in Delhi alone is 6,76,800 tonne per year. Even a 10% collection will result in a sizeable production of bio-diesel. India consumes 82 million tonne of edible oil annually. According to Vig, the idea is to employ new innovations and technologies to make the planet safe and clean.
Source: financialexpress.com