It was in August 2014 that the Pune-based My Eco Energy Ltd (MEE), a bio-diesel manufacturing company, launched a bio-diesel fuel under the brand name ‘Indizel’.
The company launched the first bio-diesel station at Lonikand near Pune. Made from vegetable oils and feed-stock like palm stearin and palm fatty acid distillate, the bio-diesel was claimed to be capable of replacing fossil diesel completely.
In 2017 June, the promoters of the company have resurfaced. Briefing the media on Indizel recently in Mumbai, the company laid out an attractive business proposition. Coinciding with India’s recent upgrade to Bharat Stage IV (BS-IV) emission standards, the tactical move comes 3 years ahead of India’s transition to BS-VI standards in April 2020.
Expecting to ride the wave of this major leap by the entire automotive ecosystem, MEE is pitching Indizel to retail investors as the only fuel in the country meeting the BSVI (Euro-6) emission norm. The company has installed 1 demo pump each in Maharashtra, Rajasthan, Andhra Pradesh and Telangana for interested retail investors to experience the difference of the bio-diesel over conventional diesel. It has invested Rs. 250 crore for the venture.
MEE is targeting conversion of already functional traders, across industry segments, in a bid to build a pool of Indizel retailers. With claims of 600 retailers having signed-up, MEE aims to launch 50 pumps over the next 3 months. In line with the trend of asset-light business models, it brings to the table, fuel-station models that are multi-functional. They can be set up in the investors existing business premises or on a stand-alone site on a company owned dealer-operated model. The premises will be owned by the retail investor to begin with, while the onus of add-ons like training, equipment and guidance will be with MEE.
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