<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Case 1 &ndash; Thermax Ltd Power Division &ndash; EPC Solid fuels based Captive power business</span></strong></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Context:</span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;"> <span style="mso-bidi-font-weight: bold;">Declining Coal based captive power market in domestic and S.E.Asian markets. Need for innovating and diversifying to survive and grow. I joined for this purpose and took up the challenge.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Action:</span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;"> Explored diverse technologies, market scenarios, technology pathways, developed the strategy roadmap for diversification and growth based on Energy Transition technologies. Ideated and conceptualized business models for process industry energy efficiency technologies, solar thermal &amp; BESS technologies, biofuels pathways, partnerships and licenses with developers.<span style="mso-spacerun: yes;">&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Result:</span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;"> New Initiatives created by the Strategy &amp; Innovations team that I was leading, persuading BU and SBU Heads to accept solutions based on technology and market mapping and partnership success. These have picked up market traction and partly replaced the legacy businesses.</span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">a) Creation of a first mover business in 2022 for Bio-CNG, based on technology partnership with a bio-methanation and upgradation technology developer and JV with a Green fund &amp; developer for Bio-CNG plants. The business has installed plants producing 100 TPD till 2026;</span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">b) Identified the right partner for Remote data acquisition, data analysis and diagnosis for Power plant O&amp;M contracts and process plants, and enabled equity partnership for close working and deployment within Thermax businesses. This is now a focus growth area for service businesses; </span></p>
<p class="MsoNormal" style="margin-bottom: 12.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">c) Creation of new offerings for Green Ethanol, Methanol, process plants EPC bidding with process licensors etc. from sustainable sources. This is a growth business, rapidly displacing the legacy business.</span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">&nbsp;</span></strong><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Case 2 &ndash; Sterling &amp; Wilson Cogen Solutions (SWCG) &ndash; Gas based power plants EPC</span></strong></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Context:</span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;"> <span style="mso-bidi-font-weight: bold;">Declining existing Gas based power market in domestic markets as well as difficult market conditions in Africa, EU and US markets. </span>Need to diversify into alternate power EPC segments</span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Action:</span></strong><span lang="EN-US" style="font-size: 12pt; line-height: 115%; font-family: Calibri, sans-serif;"> Search for alternate technologies, connect with tech providers for SWCG EPC partnership</span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Result:</span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;"> SWCG diversified into Hybrid power and Alternate Fuels business on the basis of my efforts:</span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">a) Unique power solutions developed with hybrid of solar, biogas and gas-based power; </span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">b) Explored and identified waste to energy as a business idea for diversification and growth; </span></p>
<p class="MsoNormal" style="margin-bottom: 12.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">c) Seeded of the idea of segregation of municipal waste for efficient energy harnessing of biodegradable and non-biodegradable wastes. </span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">&nbsp;</span></strong><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Case 3 &ndash; M.E Energy Private Ltd &ndash; Business expansion with product innovations &amp; capacity development</span></strong></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Context: </span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif; mso-bidi-font-weight: bold;">This startup had a desire to grow and expand product portfolio in thermal energy domain. I joined the Management team for this purpose. </span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Action:</span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;"> Product design, market development, product innovations and capability building: </span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">a) Successfully spearheaded a major foray into waste heat recovery business including product and market development. Established the company as a reputed player in the market; </span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">b) diversified from Non-steam equipment and systems (Non-IBR) to steam based equipment and systems (IBR certified); </span></p>
<p class="MsoNormal" style="margin-bottom: 6.0pt; text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">c) introduced heat exchangers and pressure vessels into solutions offerings, and lead the successful ASME Section 1 Div VIII certification for the company; </span></p>
<p class="MsoNormal" style="margin-bottom: 12.0pt; text-align: justify; text-justify: inter-ideograph;"><strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;">Result:</span></strong><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; font-family: 'Calibri',sans-serif;"> In 5 years, the startup grew from Rs.8 Cr turnover to Rs.40 Cr turnover.</span></p>