Start-up loan for Compostable Plastic

August 18, 2022

Start-up loan of Rs 1.15 crores was approved by Union Minister Dr Jitendra Singh to commercialise “compostable” plastic. This move also seeks to eliminate the usage of Single Use Plastics (SUP). To commercialise the compostable plastic, Technology Development Board and M/s TGP Bioplastics Private Limited (Satara, Maharashtra) inked a Memorandum of Understanding (MoU).

Start-up loan for ‘compostable plastic”:

Start-Up has brought alternative solution to Single Use Plastic (SUP) in form of “prototype of a compostable plastic material”. This material breaks into a compost in soil and does not affect the environment.
This project got seed funding under NIDHI Prayas (DST), UNIDO and Niti Aayog to develop the prototype compost plastic.
Manufacturing & commercialization of the developed compostable plastic is in line with ongoing Coastal Clean Up Campaign in India.
This composite is a unique mix of Thermoplastic-Starch (TPS)-glycerin and some chemical modifications, that provides high strength to the material. Manufacturing cost of the compost is low.
Granules prepared from this composite can be reshaped in any form and used as per need.
TGP Bioplastics Private Limited aims for a production capacity of 880 MT per annum.

Coastal Clean Up Campaign:

This campaign was launched on July 5, 2022 by Ministry of Earth Sciences. It is a 75 days long campaign that seeks to raise awareness on “Swachh Sagar, Surakshit Sagar”. It will end on September 17, 2022. On September 17, 75,000 people, civil society members, students, environment activists will be deployed to achieve the target to eliminating 1,500 ton of garbage, specifically single use plastic from sea coasts.

Ban on Single Use Plastic:

In India; manufacturing, importing, stocking, sale, distribution, and use of listed single use plastic items was banned from July 1, 2022 because of their low utility and high littering potential.

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