Greenway, a Mumbai-based start-up which produces eco-friendly and fuel-efficient biomass stoves, will build prototype units by July that can also generate 10 watt electricity from the cooking heat.

Intended to be an alternative to harmful and inefficient traditional mud stoves, Greenway’s ‘smart stove’ claims 50 per cent fuel savings and 70 per cent reduction in smoke emission. It has been tested and certified by the Ministry of New and Renewable Energy and BIS.

Power from cooking An upgraded version of this stove is on the works, which, according to Ankit Mathur, Chief Technology Officer, can generate enough electricity to charge a mobile phone and power LED lights, from two hours of cooking.

This planned model, which uses an imported chip that costs around ₹3,000 to enable the generation of electricity, will be priced at ₹5,000. Research is under way to produce the units at a more economical cost, Mathur said.

At a news conference here today to announce launch of its products in Andhra Pradesh and Telangana, he said 1,000 test units of the new inverter model will be ready by July 2015.

An enterprise entirely funded by angel funding and retained earnings, Greenway is hoping to improve upon its ₹17-crore turnover last year by selling more units in the focus markets of Andhra Pradesh and Telangana.

Its production unit is located in Vadodara, Gujarat. The company is registered in Mumbai, but isn’t listed in any major stock exchanges. “No IPO at least in the next 2-3 years,” the CTO said.

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