Petonic Infotech, a pioneering management consulting firm, has today announced half a million-dollar investment in Prometheus e-Waste Recycling, a Delhi-based start-up company that offers comprehensive recycling services to get rid of electronic wastes.
With this investment, Petonic Infotech aims to help Prometheus e-Waste promotes sustainable e-waste management across India. Furthermore, the funding will help Prometheus e-Waste bring a safe, hassle-free, and results-driven solution to tackle India's e-waste problem.
Electronic waste or e-waste comprises several hazardous elements such as arsenic, nickel, barium, mercury, beryllium, cadmium, and selenium, among others. The exposure to harmful chemicals caused by the uncontrolled dumping of discarded electronic or electrical devices can prove lethal if not recycled properly.
The United Nation's Global E-waste Monitor 2020 states that India is the third-largest electronic waste generator in the world after China and the USA. Additionally, according to renowned research agencies, India generates approx. two million tons of e-waste per year. What's more, the figure is likely to multiply at a rate of 30-50% year-on-year. The mounting e-waste issue in India necessitates a stronger focus on e-waste recycling and better management of e-waste.
Therefore, to facilitate an effective e-waste management system in the country and minimize India's e-waste, Petonic Infotech has joined hands with Prometheus e-Waste to deal with the country's e-waste management issue and increase awareness of e-waste recycling.
Prometheus e-Waste is an e-waste recycler and metal extraction company which will be soon registered with the Central Pollution Control Board (CPCB), under the Ministry of Environment and Forests, Government of India. Since its inception, Prometheus e-Waste has been helping in treating e-trash, thus, making positive contributions to the environment. The company has its own technologies for extracting and recovering reusable resources from electronic trash. What's more, the company also segregates electronic waste from different commercial entities which are later repaired and refurbished.
Speaking on the investment, Yashraj Bhardwaj, the Co-founder of Petonic Infotech said, "e-Waste represents an enormous ecological hazard. Since India is on the global list of the highest e-trash generators, it is high time we, as responsible citizens, made conscious and colossal efforts in recycling e-waste to extract toxic metals that hold threats for humans as well as the environment."
He further said, "The proceeds of the financing will be used to address the e-waste problem in India and promote cleaner practices of e-waste recycling throughout the length and breadth of the country. We are confident that this investment will go a long way in reinforcing Prometheus' e-waste management efforts".
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( With inputs from ANI )
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