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My Eco Energy plans to set up a network of franchisee operated fuel dispensing stations for its non-petroleum based fuel Indizel, which the company states can be safely used in diesel vehicles.
The Indizel is made from renewable vegetable oils at a refinery in Singapore from inputs from Indonesia and Malaysia. This will be sold through a network of franchisee stations, Santosh Verma, Co-Founder of My Eco Energy, a Mumbai-based company, said.
Addressing a press conference, Verma said, “Indizel is made from biodegradable products. It is not only a better alternative to conventional diesel but economical and suitable for vehicles as it offers better fuel efficiency, smoother ride and will be about Rs. 2 cheaper than the conventional diesel sold in fuel bunks.”
The company, which has thus far invested about Rs. 50 crore in the venture, has come up with innovative models for fuel dispensing stations, which includes traders, supermarkets, hotels and malls among others.
The company fuel station models are multi-funtional and can be set up in their existing business premises or at a standalone facilities. It has different models for Urban, Semi-Urban and Highways for dispensing stations, he said.
The fuel made of vegetable oils has low sulphur content of about 10 ppm (parts per million) as against higher ppm in conventional petroleum based fuels. “As we expand out network into some select States in the country and the volumes go up, we will look at potential of processing the fuel locally,” he said.
Indizel meets European EN 590 Euro 6 and BIS (IS 1460) Bharat Stage VI fuel quality norms collating with World Wide Fuel Charter requirements, Verma said.
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