Panache Greentech Solution’s coating system ensures that every building structure exposed to heat and rain is Green, Cool, Insulated, Water Proof and Crack Free.
Scouting for source of second income, Mrs. Neetu Jain started Panache Greentech Solutions in 2008 to commercialize coating products developed by her father, Dr. D.S. Mittal. Today, almost three years down the entrepreneurial journey, she aspires to build a brand out of India offering “Green Envelope Solutions for buildings”.
Panache Greentech’s innovation lies in process of making water proofing and insulation coatings. Traditionally used solvents (derived from petroleum products) in the process have been replaced by water based chemicals making these products “Zero VOC (Volatile Organic Compounds)” and saving precious petroleum products.
In addition to being Zero VOC, start-up has developed improved IR properties which help cut down indoor temperature of building by 4-8 degree celsius leading to 20-40% savings on electricity consumption.
While India aspires to be amongst the world leaders in green buildings by 2015, Panache Greentech has interesting opportunities ahead. Over 1, 000 green building projects (with built-up area of 648,000,000 sq. ft.) are under construction in the country with around 150 certified and fully functional green buildings.
Mrs. Jain says – They face limited domestic competition as Indian coating companies are selling “water proofing” whereas Panache Greentech is promoting “energy efficiency”. International competing products available in India are priced 30-40% above their current selling pricing thus making them competitive in the green building segment. Not only the pricing, product is a better fit for Indian climatic conditions. Increasing electricity bills and awareness of energy efficiency will open up larger opportunities for the company.
Funded by founders, start-up has reached sales of Rs 1.5 Cr with an installed production capacity of 1MT per day. Panache Greentech is looking at financial and marketing partnerships to take the company, a leap forward.
Recommended Read: Green Tech Investment in India – Is it really happening?
[About the author: Guest article by Rachit Mangal. Rachit is a startup enthusiast, passionate about commercializing innovations. He works with entrepreneurs in areas of marketing, customer acquisition, designing business models and making investor pitches. He can be reached at rachit.mangal@gmail.com]
