Investment in the environment-friendly BioPlastics (PHA) technology, Technology Tie-Up / Joint Venture with AuraPHA to produce Biodegradable Plastics
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New Delhi (India), January 19: Vikas Ecotech Limited is pleased to announce its plans to invest in the environment-friendly BioPlastics (PHA) technology and in the advance stage of finalising a Technology Tie-Up/Joint Venture with Aurapha Private Ltd. (the ‘AuraPHA’) to produce Biodegradable Plastics.
The concerns over the impact of the conventional plastic material on the environment are eminently visible. The solution is to adopt to biodegradable plastics such as Poly-Hydroxy-Alkanoates (PHA). PHAs are biopolymers synthesized by various types of bacteria and are bio-degradable in nature, produced from renewable resources through an eco-friendly process. Vikas Ecotech has been exploring this opportunity and working in its ways for developing eco-friendly viable alternatives.
Realising potential of environment friendly Bio Plastics concept, Vikas Ecotech has decided to start investing in that direction and in this very pursuit eyeing a Technology Tie-Up / Joint Venture with AuraPHA to produce Biodegradable Plastics on industrial scale. Initially a pilot plant for producing Biodegradable plastics shall be set-up which will eventually, with further investments, scaled up in in various well-organized phases.
In addition, in order to push the company’s keen interest in developing a variety of Bio Degradable materials to replace conventional plastics for different application areas, Vikas Ecotech is actively exploring various proposals for acquisition of necessary the technology to produce PBAT (Polybutylene adipate terephthalate), specifically to manufacture environment friendly carry bags, which are presently made of conventional plastic materials and are cause of severe environmental concerns across the world.
Defence Research and Development Organization (DRDO), Ministry of Defence, Government of India has developed certain technologies for developing Bio-degradable polymer granules of PBAT (Polybutylene adipate terephthalate) to manufacture bio-degradable carry bags, and Vikas Ecotech will be pursuing this opportunity starting with submitting an expression of interest (EOI)/its credentials for obtaining the same.
What are Bio Plastics?
Biodegradable plastics are materials are an environment friendly alternative to the conventional plastic materials in lay man terms. The reason for the name “Biodegradable” materials is that these can be decomposed by the action of living organisms, usually microbes, into water, carbon dioxide, and biomass, thus these Biodegradable plastics can be disposed in safe and ecologically sound manner through disposal processes (waste management) like composting, soil applications and biological waste water treatment with a negligible or minimal impact on environment.
Why AuraPHA?
AuraPHA or say Aurapha Private Limited is a registered entity in Virudhunagar, Tamilnadu, India founded by renowned micro-biologist Dr. P. Murugan, (Ph. D in Microbiology from The University of Science, Malaysia) who has been awarded an international grant to develop necessary technologies to produce PHAs on industrial scale.
AuraPHA successfully established a laboratory scale project and is all set to start a pilot project/plant for producing PHAs which can be used in making “Single-Use Biodegradable Plastic Materials” and Innovative and Futuristic Materials like “Slow-Release Fertilizers” and Niche Matrices to facilitate “Re-cycling of Aqua Culture Systems”, which are highly relevant to the future of our country.
Vikas Ecotech Ltd. is a New Delhi based company engaged in the business of Speciality Polymers & Specialty Additives and Chemicals for Plastics & Rubbers industries, catering to a wide horizon of applications in Agriculture, Infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.
Vikas Ecotech is the only manufacturer of Organotin (Heat Stabilizers for Vinyl applications) in lndia. with in-house R&D facilities and is one of the single digit number of manufacturers of this product worldwide, who have technology and expertise for manufacturing this material right from Tin Metal to the final product.
Vikas Ecotech is expanding its business and product portfolio has added many consumer (final) products to its conventional (raw material businesses) profile. The new business segments include Infrastructure Products like Steel Pipe Fittings, MDPE Pipes for Gas applications to its business lines.
The securities of the Company are listed on both the Stock Exchanges, BSE (Scrip Code: 530961) and NSE (Scrip Code: VIKASECO).
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