TDB-DST approves INR 6.00 Crores for M/s Eco Recycling Limited's 'Recycling on Wheels SmartER'

Eco Recycling Limited (BSE: 530643, ECORECO), India's pioneering Ewaste Management Company, has received a significant boost through strategic support from the Technology Development Board (TDB) for its groundbreaking initiative, 'Recycling on WheelsSmartER.' This initiative represents a milestone in providing safe and secure E-waste solutions.

In a recent address during the 97th Mann Ki Baat episode, the Honourable Prime Minister emphasized the importance of proper e-waste disposal to safeguard the environment. In alignment with this vision, the Technology Development Board has announced its strategic financial support of INR 6.00 Crores to M/s Eco Recycling Limited's 'Recycling on Wheels-SmartER' Project.

Commenting on this development, Mr. B K Soni, Managing Director of Eco Recycling Limited, stated, "Eco Recycling Ltd has been at the forefront of innovation in the e-waste management sector since 2005. We were honoured to receive recognition from none other than Prime Minister Shri Modiji during his Mann Ki Baat address in January 2023. This time, we have introduced a revolutionary model for e-waste collection, shredding, data destruction, and transportation, aptly named 'Recycling on Wheels-SmartER.' This unique model is poised to rapidly formalize the E-waste Recycling segment. Our innovation has received commendation from the Office of The Principal Scientific Advisor (PSA), and now, with the approval of financial support from the Technology Development Board (TDB), we are set to implement this transformative model in the e-waste management sector, which is currently dominated by informal workers {Kabadies). Ecoreco believes that anyone interested in entering the Ewaste Recycling business as an emerging opportunity can do so with minimal capital investment, contributing to resource generation and supporting the Government of India's Atma Nirbhar Bharat & Circular Economy missions."

Shares of ECO RECYCLING LTD. was last trading in BSE at Rs. 187.45 as compared to the previous close of Rs. 178.95. The total number of shares traded during the day was 47683 in over 412 trades.

The stock hit an intraday high of Rs. 187.85 and intraday low of 175.00. The net turnover during the day was Rs. 8842394.00.

Source : Equity Bulls

Keywords

ECORECYCLING INE316A01038 TechnologyDevelopmentBoard RecyclingonWheelsSmartER