To become a global leader in renewable energy India needs to

first_imgThe extreme heatwave that recently saw temperatures soar across India was a stark reminder that this region is one of the most vulnerable to the impacts of climate change. As countries start to declare climate emergencies, following the urgent call for decarbonisation in last year’s Intergovernmental Panel on Climate Change report, it is now, more than ever, in the hands of companies and governments to find solutions. Also Read – EAM Jaishankar calls on European Parliament President David Sassoli Advertise With Us As Prime Minister Narendra Modi takes charge of his new term, he must renew his commitment to addressing this climate emergency. It is essential that the Indian economy provides an ambitious and viable pathway to a net-zero carbon economy by 2050 at the latest. Encouragingly, business in India, and globally, are taking action on the climate.By cutting greenhouse gas emissions in line with the Paris Agreement goals, businesses are helping to fight climate change and reduce air pollution. Also Read – This is why Denmark, Sweden and Germany are considering a meat tax Advertise With Us India is moving into a strong position to lead globally as an early mover – having already overtaken the US to become the second largest solar power market in the world in terms of solar installations. In 2017, new solar installations reached a record 9.6 GW during the year, increasing employment in solar PV by 36 per cent to 1,64,400 jobs, according to IRENA (International Renewable Energy Agency). Advertise With Us India had the world’s fifth-largest additions to wind capacity in 2017, employing some 60,500 people. India’s clean energy sector could create 300,000 new jobs by 2020, already matching the current level of employment at Coal India Ltd. Investments in renewables in India topped those of fossil fuels for the first time in 2018. For a country that still relies on coal for more than half of its power needs, this is a strong signal that investors are embracing the zero-carbon future. India has set its sights high with ambitious renewable energy targets. Thanks to rapidly falling technology costs and supportive policies, the country is on track to achieve those goals years ahead of schedule. Moody’s forecasts that India will overachieve against its targets, with non-fossil fuel power generation capacity hitting 45 per cent (rather than 40 per cent) by 2022 along with a fall to 57 per cent of coal-fired power generation by 2030. India must tackle the legacy of fossil-fuel power production by committing to no new coal-fired power and planning the phasing out existing coal in a way that takes care of workers and ensures energy access and reliability for all. This would both accelerate the transition to a clean energy future and avoid stranded assets in years to come. It’s notable that Carbon Tracker has warned that some USD 60 billion of coal-fired power generation assets may be stranded in South-East Asia in the next decade. Business is signalling its support of a move away from coal. Tata Power’s decision to not build new coal plants is one such signal – with the company’s Mundra coal-fired power plant, one of the biggest in India, experiencing losses reaching USD 191 million for the first three-quarters of 2018-19. Tata Power’s latest plan includes a goal for up to 70 per cent of new capacity to come from solar, wind and hydro through to 2025. India’s thermal power giant NTPC Ltd has also reportedly shelved 10.5 GW of its planned coal-fired power projects year-to-date and the national coal-fired pre-construction project pipeline has shrunk by a quarter in the last six months according to the Global Coal Plant Tracker (GCPT). India is becoming a global leader in renewable energy. Now is the time for the Indian government to update its targets on climate and give the business the clarity and confidence needed to continue to unlock innovation and drive investment in zero carbon products and solutions. This is India’s moment to step up as a world leader, demonstrating how an economy can continue to grow and thrive with a clear pathway towards a cleaner, healthier zero-carbon future. (Damandeep Singh is Director of the India office of the Britain-based Carbon Disclosure Project (CDP) that supports companies and cities to disclose the environmental impact of major corporations)last_img read more

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Mixlab Raises 85M for its Modern Pet Pharmacy

first_img Filed Under: #NYCTech, AlleyTalk, HealthTech, Interviews, PetTech Tagged With: Frederic Dijols, Global Founders Capital, Joyance Partners, Lakehouse Ventures, Mars Petcare, Mixlab, Monogram Capital, TQ Ventures Pet parents don’t have to feel helpless when they have to give their pets medicine, now that Mixlab is around. This modern pet pharmacy schedules same-day or next-day delivery of medicine with a few clicks. The company also has built expertise in compounding allowing them to provide medicine that is customized and tailored to your pet’s preferences. Medications are easy for pets to consume by adding flavoring (e.g. beef, bacon, or marshmallow), adapting dosages depending on the size of the animal, and transforming pills into various forms (treats, liquids, gels, etc). Mixlab’s mission is to make pill time stress free for dogs and pet parents.AlleyWatch spoke with founder and CEO Fred Dijols about creating the pharmacy that every pet parent loves, the company’s future plans, and recent round of funding.Who were your investors and how much did you raise? We closed a $8.5M Seed round led by Global Founders Capital. Other investors include Monogram Capital, Brand Foundry, Lakehouse Ventures, Mars Petcare, Joyance Partners and TQ Ventures, among others.Tell us about the product or service that Mixlab offers.We’re a modern pet pharmacy that provides a delightfully personalized, headache-free experience. Veterinarians seamlessly prescribe in seconds on our proprietary online platform and we contact pet parents to schedule same-day or next-day delivery. Pet parents receive a customized care package with a personalized note from the pharmacist, clear instructions and a handpicked toy for their pet.Our primary focus is compounding: instead of force-feeding your pet five different pills or cutting a pill into eighths to tailor the dosage, we can combine multiple medications, add flavoring (like beef, bacon, marshmallow), transform pills into various forms (treats, liquids, gels, and even gummy bears), and adapt dosages for size.What inspired you to start Mixlab?My cofounders and I share a strong belief that pets are family and they deserve the same level of care. When my 11-year-old pug, Bob, was diagnosed with a health condition, she was prescribed a medication that needed to be compounded for her weight. However, the local pharmacies had trouble getting the medication delivered fast enough and it took weeks to get it from an online pharmacy. The entire process—with back and forth calls, lack of transparency and delays–was quite frustrating at a time of distress. I knew that there had to be a better way. The expectations for our pets shouldn’t be any different than the ones we have for our human patients.How is Mixlab different?At Mixlab, we focus on providing the best level of care for pets and delivering an amazing experience for pet parents and veterinarians. We want to make their lives easier and better by utilizing technology and adding a healthy dose of TLC. Everything we do is personalized, from the medications that are tailored to pets’ needs, to the care package that comes with a note from the pharmacist and a toy that changes every time. We’re always there for pet parents and aim to bring joy at a time of distress.Everything we do is personalized, from the medications that are tailored to pets’ needs, to the care package that comes with a note from the pharmacist and a toy that changes every time. We’re always there for pet parents and aim to bring joy at a time of distress.What market does Mixlab target and how big is it?About 60% of all US households have a pet and the US pet medications market is $10B within the $75B pet industry.What’s your business model?We’re a pharmacy and work with veterinarians to receive prescriptions for pets. We deliver medications in the most convenient manner for pet parents and veterinarians.What was the funding process like?We had built strong relationships over time with our investors and so it was mostly a matter of delivering on our promises. Once we went out to raise we were fortunate to receive a term sheet very rapidly and ended up being way oversubscribed. We were able to assemble a great team of investors who have helped build amazing companies across various industries.What are the biggest challenges that you faced while raising capital?It’s always important to be very efficient with the fundraising process so that the business can continue to operate smoothly and grow at the pace you want it to. Juggling the many priorities well is critical.What factors about your business led your investors to write the check?Many investors are interested in the pet industry because of the positive macro trends and there are many great pet companies out there. When it comes to pet meds, there’s a great deal of complexity and hurdles to overcome, which is why few companies have actually attempted to innovate in the space. When investors saw that we had laid a strong foundation to be a defining company of the space, they were excited to partner with us.What are the milestones you plan to achieve in the next six months?We’re planning on fueling growth in the Northeast, obtaining additional licenses, hiring many more people and building out another lab. There’s definitely lots to do.What are the biggest challenges as you expand nationally?We’re expanding nationally by building out additional labs so that we can be close to our customers and provide our high level of service. Because quality is so important to us and we focus on compounding, our buildouts are actually quite complex.What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?I think perseverance and focus are key. It’s so critical to show strong progress over time and hit the milestones that matter for your business. Not having fresh capital can be scary but it allows entrepreneurs to hone in on what really needs to be done.Where do you see the company going now over the near term?We see Mixlab deepening and broadening our relationships with veterinarians across the country, launching new features for them and for pet parents, and establishing ourselves as the go-to pharmacy for pets.What’s your favorite restaurant in the city?It’s more of a bakery, but I’m pretty obsessed with the chocolate babka at Breads.PREVIOUS POSTNEXT POST Mixlab Raises $8.5M for its Modern Pet PharmacyJune 6, 2019 by AlleyWatch 254SHARESFacebookTwitterLinkedinlast_img read more

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