Joint venture aims to combat food waste and energy demand with Net-Zero Cold Storage initiative
In a groundbreaking partnership aimed at tackling India’s critical food waste challenge, BOOTES, as the company touts itself India’s first Net-Zero company, and CargoPeople, multimodal logistics firm, have announced the launch of Net-Zero Cold Storage.
The company in a statement said this initiative not only aims to prevent food waste but also addresses India’s escalating energy demand by relying on renewable energy, not fossil fuels.
The joint venture, propelled by the vision that no child should go hungry, seeks to transform India’s cold storage landscape.
Leveraging BOOTES Cold Chain’s expertise in Net-Zero technology and infrastructure, combined with CargoPeople’s proficiency in the supply chain, the initiative is poised to revolutionize the industry.
With a strategic partnership with URBS (Urban Systems urbs AB), renowned for sustainable technologies and finance, BOOTES Cold Chain eyes this venture as a multi-billion-dollar opportunity.
Their ambitious goal is to deliver USD 1 billion in net-zero cold storage projects over the next five years, attracting green financing to build new facilities across the nation.
Net-zero cold storage, which boasts 50% greater efficiency than traditional systems, holds the promise of reducing food waste from 40% to a mere 5% over the next decade. Moreover, it can extend the shelf life of perishables while slashing electricity consumption costs by 60% and offsetting 80% of carbon emissions, aligning perfectly with India’s NET-ZERO goals.
Deepak Rai, Founder and MD at BOOTES, underscores the urgency of the endeavor, stating, “Our cold storage model is aligned with the government’s NET-ZERO 2070 goals, and we hope that it will positively impact the children and the farmers of India.”
Manuj Adlakha, Founder and CEO of CargoPeople, acknowledges the challenges facing India’s cold chain sector but remains optimistic about the potential for growth. “This collaboration has brought together our mutual expertise, resources, and commitment to making a positive impact,” Adlakha affirms.
As India braces for the challenges of climate change and food security, the BOOTES-CargoPeople alliance represents a beacon of hope, offering a sustainable solution to a pressing national issue.