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MoS Dr Jitendra Singh approves StartUp Loan of Rs 1.15cr to TGP Bioplastics for commercializing Compostable Plastic

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MoS Dr Jitendra Singh approves StartUp Loan of Rs 1.15cr

On August 16, 2022, the Minister of State (MoS) Dr Jitendra Singh, Ministry of Science & Technology (MoST) has approved StartUp loan of Rs 1.15 crores to M/s TGP Bioplastics Private Limited, Satara (Maharashtra) for commercializing compostable plastic which will mitigate the usage of Single Use Plastics (SUP).

Reason behind this Loan:

StartUp TGP Bioplastics has come up with an alternative solution of SUP with the prototype of a compostable plastic material which breaks down as compost in soil without affecting the environment.

  • This project has received seed funding under National Initiative for Developing and Harnessing Innovations- NIDHI Prayas of Department Of Science & Technology (DST); National Institution for Transforming India- NITI Aayog; and United Nations Industrial Development Organisation (UNIDO) for the prototype development.

Achievement of Startup:

The composite material developed by the startup is cheaper than the available compostable plastic (~Rs 180/kg), having comparable strength.

What is composite?

It is a unique blend of Thermoplastic-Starch (TPS)-glycerin with some chemical modifications that provides higher strength with low manufacturing cost. The granules prepared from this composite can be moulded into any shape and used as per the requirement, and it further breaks down into natural substances once thrown out.

  • Currently, very few degradable materials/composites are available in the market. Most of them cost more than Rs. 280/kg for the raw materials.

Signing of MoU between TDB and TGP Bioplastics Private Limited for Manufacturing & Commercialization of compostable plastic

A Memorandum of Understanding (MoU) was signed between Technology Development Board (TDB), a statutory body under DST and TGP Bioplastics Private Limited for manufacturing & commercialization of compostable plastic.

  • With funding from TDB, the company targets a production capacity of 880 MT (Metric Tonne) per annum.

Key Points:

i.The manufacturing & commercialization of compostable plastic by the TGP Bioplastics will also aid in the ongoing countrywide Coastal Clean Up Campaign launched by the Ministry of Earth Sciences (MoES) from July 5, 2022.

  • It is a 75 days long campaign to raise awareness about Swachh Sagar, Surakshit Sagar and will culminate on an International Coastal Clean-up Day on September 17, 2022.
  • 75,000 people, students, civil society members and environment activists among others will be mobilized to achieve the target to remove 1,500 ton of garbage, mainly single use plastic from the sea coasts.

ii.India has banned manufacturing, importing, stocking, distribution, sale and use of identified SUP items, which have low utility and high littering potential, all across the country on July 1, 2022.

Recent Related News:

i.MoS Dr Jitendra Singh announced the setting up of Dr. Rajendra Prasad Memorial Award in public administration in the field of academic excellence, in memory of the first President of India, Rajendra Prasad.

ii.MoS Dr. Jitendra Singh attended the “UN Ocean Conference 2022” in Lisbon, Portugal.

About Department of Science & Technology (DST):

Secretary– Dr. Srivari Chandrasekhar
Parent Ministry– Ministry of Science & Technology
Headquarter– New Delhi, Delhi