We are poised to make a lasting impact on the global sustainability landscape
Published on : Tuesday 09-01-2024
Annanya Agarwal, Co-founder and CEO of Runaya.
The Runaya journey from zero to INR 1,000 crore in five years appears incredible. What are the core activities of the company?
We've experienced consistent growth year after year, achieving substantial milestones that underscore our commitment to delivering genuine value to our customers. Our revenue trajectory reflects this journey, surging from INR 40 crore in our inaugural year to an impressive INR 650 crore in FY24. This growth is a testament to our focused strategies and unwavering dedication to sustainability.
At the core of our success lies a three-pronged approach encompassing innovation, technology, and sustainability. This combination has not only distinguished us in the market but has also played a pivotal role in advancing the sustainability objectives of the resources industry.
Looking ahead, our ambitious goal is to prevent over 1 million tonnes of waste annually by 2028, signifying a substantial stride towards a greener and more sustainable future. With a robust commitment to environmental stewardship, we are poised to make a lasting impact on the global sustainability landscape.
1. Green Aluminium Recovery:
Our patented process for extracting Green Aluminium from Aluminium Smelter Waste is a groundbreaking initiative with the world's lowest carbon footprint at 600 kg of CO2 per metric ton of aluminium. In collaboration with TAHA International, we are dedicated to assisting the Indian aluminium industry in adopting innovative and sustainable technologies. Our recovered Aluminium has been certified by DNV, a global authority, further solidifying our commitment to environmental sustainability. We repurpose 60% of the dross to create value-added products crucial for steelmaking, adhering to a zero-waste and zero-discharge approach.
2. Metal Recovery Business Expansion:
We have expanded our portfolio to handle zinc industry residues, providing sustainable solutions for treating Zinc and Lead smelter residues. Our Aluminium residue treatment plants have seen enhanced capacities, and the retrieved metals, including zinc, undergo processing to yield high-quality products with diverse industrial applications.
3. Minova Runaya Private Limited:
Our collaboration with Minova in Minova Runaya Private Limited focuses on ground support solutions for the mining and infrastructure industries. This collaborative effort aims to streamline the development of new products and innovative solutions in mining, tunnelling, and infrastructure, contributing to the objective of Atmanirbhar Bharat. Safety is a paramount concern, and our focus is on bridging the gap between industry hazards and safety measures while empowering local talent.
4. Fibre Reinforced Plastic Rods (FRP) Business:
In alignment with India's goal of becoming a digitally-driven nation, our FRP business is at the forefront of revolutionising the 5G network. Our range of FRP and ARP products, including cables serving as central strength members in the 5G telecom industry, safeguards fibre optic cables from potential damage. We take pride in being the first Indian company to secure a patent for Water-Swellable FRP rods.
Traditionally, aluminium production is highly energy intensive with significant contribution to GHG. How does Runaya change this equation?
Our patented process extracts Green Aluminium from Aluminium Smelter Waste, remarkably slashing the carbon footprint to as low as 600 kg of CO2 per metric tonne of aluminium. Key to Runaya's transformation is the strategic use of solar power for plant operations – a move that not only minimises reliance on conventional energy sources but also significantly curtails the overall environmental impact of the production process. This commitment to clean energy aligns with our goal of fostering sustainability within the aluminium industry.
Moreover, we go beyond waste reduction by repurposing 60% of dross, a byproduct of the aluminium recovery process. This not only contributes to environmental conservation but also creates value-added products for steelmaking, showcasing a holistic approach to resource utilisation. Through these patented processes, reliance on solar power, and efficient waste management strategies, Runaya exemplifies a commitment to reducing the carbon footprint and promoting a greener future for the aluminium industry.
Metal recovery from industrial waste sounds exciting. What are the difficulties in the process and does Runaya achieve it in practice?
Metal recovery from industrial waste is indeed an exciting endeavour, holding the promise of both environmental sustainability and resource conservation. However, this process is not without its challenges, therefore in our Minor Metal Recovery Business, we actively managed these by adopting a strategic approach.
One of the primary challenges in metal recovery is the requirement for advanced technologies. We hence strategically invest in research and development to stay at the forefront of innovative solutions. By developing and refining our own technologies, we ensure that we are equipped to handle diverse types of industrial waste and extract valuable metals efficiently. Furthermore, the economic viability of the recovery process poses a substantial hurdle. However, for us, through a combination of in-house expertise and global partnerships, we have been able to significantly optimise the cost-effectiveness of the recovery operations. This involves streamlining processes, maximising metal yield, and exploring avenues for sustainable business models.
Runaya aims to decrease 1 million tonnes of industrial waste in 2023. What are the technologies that help in this process?
In our pursuit of decreasing 1 million tonnes of industrial waste in 2023, Runaya has strategically employed various cutting-edge technologies. One significant initiative involves augmenting the dross processing capacity to an impressive 70,000 TPA within the Green Aluminium Recovery Business. This not only enhances our waste management capabilities but also aligns with our commitment to sustainable practices. Another key endeavour includes the establishment of an Aluminium Fluoride (AlF3) plant, aimed at slashing imports by more than 50% while concurrently generating additional revenue.
Furthermore, we are expanding our global footprint in the Telecom Grade FRP & ARP Rods business, with a deliberate emphasis on exports. This expansion not only contributes to our waste reduction goals but also promotes the adoption of environmentally friendly materials on a broader scale. To foster continuous innovation in waste processing, we have initiated collaborations with universities and established an innovation centre. This strategic move enables us to identify new waste processing opportunities and develop advanced technologies that further propel our mission of reducing the environmental impact of industrial waste.
These multifaceted technological initiatives underscore Runaya's unwavering dedication to fostering innovation, embracing sustainable practices, and actively mitigating the adverse effects of industrial waste on the environment. Through these measures, we aim not only to meet but exceed our ambitious target of decreasing 1 million tonnes of industrial waste in the year 2023.
What are the existing technology partnerships of the company with domain experts globally?
We actively pursue partnerships and collaborations with global institutes, industries, and universities to drive innovation and enhance our existing processes at Runaya. Currently, we have a significant partnership with TAHA International in the Green Aluminium Recovery business, underscoring our commitment to fostering valuable collaborations with both national and global industry leaders. Our collaborative efforts extend beyond traditional industry boundaries, encompassing research institutions, technology providers, and stakeholders who align with our vision of promoting a sustainable future. These partnerships serve as crucial channels, providing us access to cutting-edge research, technological advancements, and best practices in the field of metal recovery and sustainable practices.
What are the resources are available from the Group's Innovation Centre in Odisha?
Runaya has established an innovation centre to identify waste processing opportunities and develop technologies to tackle waste management issues. The innovation centre collaborates with universities, including IIT Kharagpur, for developing lab-scale technologies. The focus is on converting waste into recyclable products, with ongoing efforts to develop new products and improve operational efficiency. This initiative aligns with the company's commitment to innovation, sustainability, and creating a circular economy in the manufacturing industry.
The mining industry is under pressure on the sustainability front – energy, water, etc. How realistic is the Net Zero commitment?
The mining industry faces significant challenges in meeting sustainability goals, particularly in terms of achieving Net Zero commitments for carbon emissions. The industry is a major contributor to greenhouse gas emissions, primarily due to energy-intensive processes and the use of fossil fuels in mining operations. Achieving Net Zero in the mining sector involves reducing and offsetting emissions to balance the amount released into the atmosphere.
Several factors impact the feasibility and realism of Net Zero commitments in the mining industry:
Energy Intensity: Mining operations are often energy-intensive, relying on heavy machinery and equipment powered by fossil fuels. Transitioning to renewable energy sources, such as solar or wind power can be challenging due to the scale and specific energy requirements of mining activities.
Technological Challenges: The development and adoption of cleaner technologies, such as electric vehicles for mining trucks or advanced processing methods, are crucial for achieving Net Zero. However, implementing these technologies on a large scale may face technical and financial barriers.
Resource Availability: Some essential minerals and metals required for renewable energy technologies, like lithium, cobalt, and rare earth elements, are also mined. There is a challenge in ensuring responsible and sustainable sourcing of these critical materials to support the transition to a low-carbon economy.
Water Usage: Mining operations often consume large amounts of water, leading to environmental concerns, especially in water-scarce regions. Sustainable water management practices are essential for reducing the impact of mining activities on local ecosystems.
Regulatory and Stakeholder Pressures: Increasingly stringent environmental regulations and growing awareness among stakeholders, including investors and communities, are putting pressure on the mining industry to adopt more sustainable practices. This can drive companies to make Net Zero commitments and invest in sustainability initiatives.
Carbon Offsetting: Achieving Net Zero may involve the purchase of carbon offsets to compensate for emissions that cannot be eliminated. However, relying solely on offsetting without substantial emissions reduction measures may raise concerns about the credibility and effectiveness of Net Zero commitments.
While the mining industry faces significant challenges in achieving Net Zero, many companies are recognising the importance of sustainability and are taking steps to address their environmental impact. Collaborative efforts, innovation, and a commitment to responsible mining practices are essential for making meaningful progress toward Net Zero goals in the mining sector. It is also important for stakeholders, including governments, investors, and communities, to actively engage and support these efforts for a successful transition to a more sustainable future.
Can Runaya lead the trend reversal and become a technology provider for the world of mining?
Absolutely, I believe Runaya has the potential to lead the trend reversal and emerge as a significant technology provider for the global mining industry. The company's unwavering focus on innovation, sustainability, and technology-driven manufacturing uniquely positions it to make substantial contributions to the mining sector.
Our commitment to developing and deploying cutting-edge technologies sets it apart in an industry that is increasingly recognising the importance of technological advancements. By actively collaborating with global experts, we ensure that the company stays at the forefront of technological developments and can integrate the latest innovations into its operations.
Runaya’s proactive involvement in the circular economy aligns perfectly with the growing emphasis on responsible and environmentally friendly practices within the mining industry. As we scale our operations and continue to invest in research and development, it is poised to not only keep pace with industry trends but also it will set new standards. The combination of a forward-thinking approach, technological expertise, and a commitment to sustainability creates a solid foundation for Runaya to lead the trend reversal and establish itself as a prominent technology provider, contributing to the transformative journey of the mining industry on a global scale.
Annanya Agarwal is the Co-founder and CEO of Runaya. Annanya leads the sustainability practice where he aims to create technologically advanced and sustainable solutions for the resources and material sciences sector. Annanya understands the need to make collective efforts toward earth with an eye for sustainability and overall societal growth.
Under his leadership at Runaya Refining, the company has achieved various milestones in less than five years of its operations. During this time, he has been extensively involved in the project of Restora and has also been undertaking many Greenfield projects. Annanya has a strong belief that with Runaya, he can solve the biggest issue in the resources sector and build a greener tomorrow.
Annanya comes with a rich global experience across varied fields in renowned companies including Boston Consulting Group, McKinsey & Company, and Standard Chartered Bank.
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