Sustainability Soars: Bio Fuel Innovators Outmaneuver Skeptical Shark

In a dramatic turn of events on the latest Shark Tank India episode, a high-revenue bio fuel firm was confronted by shark Namita Thapar. The Rajasthan-based couple operating Ecoil with Rs 26 crore estimated revenue this year presented their waste oil-to-bio fuel business model. Though the panel was impressed with their figures and Shell India's 4% equity stake, Thapar forecasted that the company had no future. She contended that airlines would use carbon offset rather than bio fuel, which would render the market redundant. The founders visibly disagreed and shook their heads over her forecast. In spite of the grilling by Thapar, Ecoil made a deal with Ritesh Agarwal and Chirag Nakrani, who believed in the expanding market for sustainable aviation fuel.

 

Source: The Indian Express