16 Oct Chairman Report
MESSAGE FROM OUR DREAMERS
Chairman and Founder: Dr Manoj Jain
Averting Existential Crises: Call to Action
In last 200 years, the global human population has grown from about 1 billion to close to 8 billion today. Growth of human population, large scale industrialization and addiction to fossil fuel is leading build-up of greenhouse gases and global warming. Climate change is a “crisis multiplier” that has profound implications for international peace and stability.
Climate crisis is further exacerbated by air, water, and land pollution. Globally pollution causes about nine million deaths per annum. Plastic, a large polluter, is a global menace despite its usefulness. Single-use plastic is only partially recycled and is dumped in oceans or landfills hurting all forms of living beings on the planet. With massive swirling plastic garbage patches in every water body, oceans are predicted to have more plastic than fish by 2050. Global warming and pollution are existential crises, challenging all governments, scientists, investors, and entrepreneurs to work together to avert biggest threat to humanity ever.
Our Purpose and Our Contribution
The Lancet study states that more than 1.6 million premature deaths due to air pollution and more than 500,000 were caused by water pollution in India in 2019. About 50 billion plastic bags, equivalent to about billion litre of fuel oil, are dumped every year. Additionally, tires used for all automotive applications eventually get dumped after getting worn out. India’s huge amount of plastic/rubber (“combustible”) scrap urgently needs environment friendly solutions.
Like plastics, there are other valuables that the society can retrieve from Municipal Solid Waste(“MSW”). India is produces 170 Kilo Ton per day of MSW and there exists 960 million tons of legacy MSW in India – a huge source of health & wellness concern. Sorting MSW with right technologies and processes can generate alternative fuels from Dry-Sorted Waste and bio-CNG gas and hydrogen from Wet-Sorted Waste. The social impact of handling MSW with the right technology is enormous: you can provide 90 million people daily with electricity from converting daily fresh waste to energy. Legacy MSW is worth more than USD 60 billion of electric power.
These are two major areas that are in in focus at Ideation3x.Our mission “under 2 degrees Celsius” is to create alternatives to fossil fuels to reduce Green House Gases (GHG). We are investing resources and through our technologies, we are planning to achieve the stated goal in India and later in ASEAN countries.
i3X, along with its partners, began to win Integrated Solid Waste Management (“ISWM”) concessions in India. Today we have approx. 1500TPD Fresh Waste for next 15 years and approx. 4million Tons of Legacy Waste concessions. We will win more tenders in future as we keep succeeding in reducing waste and be the champion in leading the way to reduce tangible climate targets. Our target is to achieve USD 250 million in Revenue by March 2026 along with reducing 3.8 million tons of GHG, which is equivalent to no emissions from 800K cars for a year.
10% of the world solid waste or over 80% of solid waste in South Asia is from India which is around 14 billion business opportunity. Addressing these problems and showcasing a sustainable business model will create tsunami of activities and investments in addressing global GHG emissions and support for circular economy.
Chief Financial Officer and Business Governance: Mr. Ramesh Jain and Mr. Manish Kapoor
In India alone, i3X’s founding location, there are over 3,000 landfills to be cleared with a potential tipping fee of USD 5.0 billion. In addition, India generates over 60 million tons of municipal solid waste per day generating more than USD 1 billion just in tipping fees. Also, there is a total market of over 5,000 transfer stations. With PM sponsored “Clean India” mission, the central government has allocated up to USD 60.0 billion for creating a hygienic environment. I3X alternative fuels business is highly scalable, and our focus is drive wealth for our investors and shareholders through its highly scalable “Circular Economy” business model. i3X will generate Revenue of USD 42.0 million and EBITDA of USD 12.5 million as of March 31, 2024, in our base case and Revenue of USD 37.0 million and EBITDA of USD 11.0 million in our bank case.
We are putting strict ESG compliant governance models in place that will address current and future business needs and help us to scale the business circularly. While we are investing our money is various businesses we are also investing in technology, human resources and capital and building businesses and expertise that will create a mix model of creating and managing assets, driving the assets beyond its capacity utility and creating value to its shareholders
We are excited because at i3X, we are first of the kind that is investing in various entities like an investor and involving in technology development and implementation of projects like a growth company and hence creating a unique combination model of Asset under management but running like an organisation in driving our intended strategy. This model will create a template for future companies who want to operate in circular economic model.