IFC and Snowman Open Call for Cold Chain Innovators Worldwide to Bring Climate-Smart Solutions to India

International Finance Corporation (IFC) and Snowman Logistics Ltd (Snowman), one of India's largest cold-chain logistics companies, have launched a global open call for innovators to bring sustainable temperature-controlled logistics (TCL) solutions to the growing Indian market, as part of IFC's award-winning TechEmerge Program.

The TechEmerge Sustainable Cooling Innovation Program is funded by the UK Government's International Climate Finance. With a total pool of up to $500,000 in grant funding, it offers competitively selected innovators the opportunity to partner with Snowman to pilot new technologies, services, and business models that improve the efficiency, affordability, and help curb greenhouse gas emissions in the Indian TCL sector.

Snowman's Director, lshaan Gupta said: "Teaming up with innovators worldwide is a win-win proposition that will lower our energy consumption and greenhouse gas emissions, create value for our customers, and ensure the sustainability of our business moving forward as we continue to expand our network. We are grateful to IFC for including us in their TechEmerge Program."

Vikram Kumar, New Business Manager, Infrastructure and Natural Resources, Asia Pacific at IFC said; Gaps and inefficiencies in cold chains pose a major challenge in India and across the globe - contributing to food waste and vaccine spoilage, and driving up costs for consumers, producers, and businesses. Innovations in cold chain logistics offer one of the most cost-effective ways to address this critical issue, while strengthening India's fast-growing cold-chain sector, and reducing the high energy usage and environmental impacts of conventional cooling technologies."

IFC and independent cooling advisors will evaluate innovations for refrigerated warehousing, space conditioning for packaging and sorting, inter and intra-city mobile cooling solutions for pharmaceuticals and other temperature-sensitive goods, loT-enabled asset management, and more.

The TechEmerge Program provides advisory support throughout field testing to help innovators mitigate financial and operational risks, reduce adoption risks for local firms like Snowman, and facilitate market-entry and tech transfer.

The TechEmerge program has a strong track record of matching innovators across the world with leading companies and organizations in emerging markets to pilot game-changing solutions, build commercial relationships, de-risk investment, and accelerate the adoption of innovation where it is needed most.

Shares of SNOWMAN LOGISTICS LIMITED was last trading in BSE at Rs. 44.55 as compared to the previous close of Rs. 43.9. The total number of shares traded during the day was 333844 in over 1902 trades.

The stock hit an intraday high of Rs. 46.3 and intraday low of 43.9. The net turnover during the day was Rs. 14993374.

Source : Equity Bulls

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