Apoorv Garg and Yugal Raj Jain are the CEO and COO, respectively, of altM — short for for alternative materials, the business they intend to pursue in India.
Both engineers with a decade of experience in various companies, their last major stop was at the known-for-innovation giant Tesla.
Their start-up’s focus is on using agricultural waste to create green alternatives to industrial raw materials derived from non-sustainable sources such as petrochemicals and plastics.
altM looks at lignocellulosic residues from sugar cane, wheat stalk, coconut husk, barley, rice and other agricultural sources. Explains Garg: “We convert post-harvest residue or biomass into bio-chemicals and biomaterials using our proprietary processes, for which patents are pending.”
According to Garg, the agricultural residue is put through a thermochemical fractionation method to deconstruct it into individual fractions or biopolymers. These individual fractions are then developed into molecules that serve as alternatives to mined materials and petrochemicals. “The material will help our end-users significantly reduce their carbon footprint,” adds Garg.
The duo is working with their chief scientific officer, Harshad Velankar, who is known for his innovations at HPCL. The alternative agri-lignin that altM is producing can replace petrochemical-based additives in industrial processes. For the cosmetics industry they have developed an innovative natural, biodegradable thickener. altM’s upcoming demonstration facility will be ready in three months.
The company next aims to develop an alternative to graphite for use in EV batteries. Also on the anvil is cellulose pulp, which can be turned into textile fibre, as an alternative to cotton.
Among other rounds of funding, altM has received ₹50 crore from ACT for Environment, a venture philanthropy fund for climate mitigation.