The CLIMAFIX Summit is India’s largest climate startup summit, organized by EAI & Energy Consortium – IIT Madras. Inderan Kannan of Climec Labs shares his thoughts on GHG Management at CLIMAFIX Summit 2022, Nov 22, 2022, at the IIT Madras Research Park, Chennai.
The session was moderated by Vinod Shankar, Java Capital
Other panel participants were:
Muthu Kumar – Energia (Watch their presentation – here)
Sandeep Bhattula – Qualivon Technologies (Watch their presentation – here)
Ronak Mistry – Greenovate Solutions (Watch their presentation – here)
Sapna Nijhawan – FinBird (Watch their presentation – here)
Gratitude and Mission Statement
Inderan Kannan, the founder of Climec Labs, started his presentation with a heartfelt expression of gratitude. He appreciated the audience’s readiness to acknowledge the severity of climate change, sparing him the need to convince them. Climec Labs, named after the Bulgarian word “klamic,” meaning climate itself, is on a mission to combat climate change and mitigate the effects of global warming. Additionally, they aim to address the problem of sick building syndrome through innovative solutions.
The Problem: Sick Building Syndrome and Climate Change
Sick building syndrome is a pressing issue. The design of different buildings can lead to an accumulation of harmful gases, such as CO2, SO2, and NO2, in indoor environments. This concentration of gases can result in a decline in cognitive and creative abilities. To combat this, Climec Labs has developed a product that utilizes microalgae to improve indoor air quality significantly.
The Climec Labs Solution
The product, designed to combat sick building syndrome, utilizes microalgae to cleanse the air. One of the unique selling points of this product is its ability to capture carbon dioxide. The larger model is capable of generating the oxygen equivalent of 22 trees and removing the CO2 equivalent of 122 kilograms, contributing to a healthier indoor environment. Climec Labs carefully controls the life cycle of the algae using physical commodities, ensuring efficacy regardless of temperature fluctuations.
Market Potential and Revenue Model
Climec Labs is eyeing a substantial market. The total addressable market for domestic air purifiers is estimated at $14.3 billion, with a projected CAGR of 34.6%. Over the next five years, Climec Labs aims to sell 4.8 million units. The revenue model is straightforward, following the Eureka Forbes model. Initially, the product will be sold at market price, with service offerings including filter replacements and maintenance.
Eco-Friendly and Sustainable
The Climec Labs product is not only effective but also eco-friendly. It produces zero waste, making it an environmentally responsible choice. Its sustainability credentials are strong, aligning with the ethos of modern consumers.
Go-to-Market Strategy
The initial sales approach will be through websites and e-commerce platforms. Due to its air purifying capabilities and carbon dioxide capture feature, the product is an ideal fit for corporate social responsibility (CSR) partnerships. This provides additional value to companies interested in environmental sustainability. One unique feature is the product’s ability to forecast pollution levels and determine the filter’s lifespan based on the data collected from users’ homes.
Funding and Projections
For a 12-month runtime, Climec Labs is seeking $600,000. They project sales of over 12,000 units in the first year, with an expected revenue of $500,000.
Climec Labs is poised to revolutionize indoor air quality. By leveraging innovative technology and a strong commitment to sustainability, they offer a solution to the urgent problems of sick building syndrome and climate change. The product’s potential to significantly impact indoor air quality, coupled with its eco-friendly design, makes it a promising investment for the future. With a clear roadmap and a committed team, Climec Labs is ready to make a meaningful difference.
