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IIT Mandi and Peak Sustainability Ventures Join Hands in a Strategic MOU for Identifying and Developing Recycling Methodologies for Solar Panels and Related Technologies.

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IIT Mandi has entered into an MoU with Peak Sustainability Ventures to develop a framework, understanding and knowledge base for recycling of valuable materials used in solar panel manufacturing, and in promoting start-ups that are focussing on the issue. The parties see a large opportunity in developing recycling methodologies for solar panels as India continues to increase its adoption of solar projects to reduce its reliance on fossil fuels.

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With solar panels in projects set up in earlier years reaching end of life within the next 5 years and the increasing adoption of new solar projects in India, there is an urgent need to determine recycling solutions that will not only enable solar panel waste management, but also contribute valuable materials for re-use in new solar projects.

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IIT Mandi is a leading educational institution, pioneering research in various areas of sustainability and climate among other initiatives, and is actively involved in supporting new technologies and innovation projects, leading to the advancement of India's climate goals. Through IIT Mandi Catalyst program, grants, investment and technical support is provided to promising start-ups providing innovative solutions to complex problems across sectors. Peak is directly and through its affiliates involved in sourcing and financing of technologies and projects in energy, water, food systems and climate, and otherwise generally promoting solutions beneficial to the climate in a commercial manner. It is involved in supporting initiatives in climate and sustainability and providing investment and ecosystem support to entrepreneurs. Both parties will commit time, technical expertise, business connections and effort towards the joint development of technologies enabling efficient recycling, higher productivity of solar panels and contributing to a circular economy.

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Professor Satvasheel (IIT Mandi), who has been involved in solar panel and solar energy research for over 10 years, and Samir Shah, Managing Partner of Peak Sustainability Ventures, who has been in the solar space for over 10 years including as a Director of Waaree Energies for over six years, signed the MOU at the Climate Pavilion at Startup Mahakumbh on 20 March 2024 in New Delhi. Startup Mahakumbh, a first-of-its-kind event in India's entrepreneurial landscape in terms of size, scale, and thought leadership, had an audience exceeding 40,000 individuals including investors, corporates, entrepreneurs, students and government representatives.

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Mr. Samir Shah, Managing Partner of Peak Sustainability Ventures said, "We are excited to collaborate with IIT Mandi on this initiative to identify a pathway for recycling valuable materials in solar panels in a sustainable manner. We have identified the issue to be complex and requiring time, effort, and costs to identify suitable solutions as well as entrepreneurs who are interested in determining efficient, cost effective and thoughtful solutions. As more solar panels reach end of life, this will become a larger issue. Hence, there is a need to start working on solutions now."

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For further information, please contact: team@peakventures.in