Husk Power systems, started by University of Virginia’s Darden School of Business students converts rice husks into energy and has created proprietary technology that cost-effectively converts rice husks into electricity.
Launched in 2007, the startup has won $250K in seed funding from DFJ and Cisco (as part of their Global business plan competition). The organization, operates primarily in Bihar and uses HPS’s proprietary technology to produce, own, and operate 35-100 kW “mini power-plants” that deliver electricity as a pay-for-use service to villages of 2000-4000 inhabitants in the Indian “Rice Belt. The seed money, as Tim Draper points out enough to generate 10 new power plants –
“This is something that can help a whole society – and we think it will be a money-maker too.”
Way to go!