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India is set to launch its first waste management and pollution exchange and trading platform.
London’s GMEX Technologies (GMEX), a leading provider of exchange technology and wholly-owned subsidiary of GMEX Group will collaborate with the Centre for Ganga River Basin Management and Studies (CGanga) to launch a Waste Trading Platform and Exchange to address the major pollution problems in the Ganga river basin.
The exchange solution will include technology to deliver market data, warehouse receipts, finance and trading, including auctions, quoting and continuous trading facilities.
Hirander Misra, Chairman and CEO of GMEX Group, said, “A key part of the solution will be the contact database that will track the potential thousands of product suppliers who will participate in the system. The solution will run in parallel on Blockchain technology inclusive of a distributed registry and contact database.”
CGangaCGanga is the new think-tank formed under the aegis of NMCG and one of its stated objectives is to make India a world leader in river and water science. The Centre is headquartered at IIT Kanpur and represents leading science and technological institutes of the country. In addition, it is responsible for introducing new technologies, innovations and solutions into India.
GMEX was selected as one of the 25 ‘high impact’ solution providers, from around the world, who have been invited to present to all of the key stakeholders in the Ganga clean-up initiative of the government. GMEX is supported by partner UTrade Solutions and its affiliate Avenir Technologies Ltd.
The initiative also includes a partnership with GS Bioenergy, an innovative waste handling start-up, that has developed a transformational waste collection and segregation methodology which is entirely market driven. The company will act as an enabler for waste processors like biogas generators or Refuse Derived Fuel (RDF) generators.
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