Indian Transport & Logistics

Bootes, CargoPeople to launch net-zero cold storage

Venture aims for $1 billion net-zero cold storage projects in five years

Bootes, CargoPeople to launch net-zero cold storage
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Bootes, India’s first net-zero construction company, and CargoPeople, an Indian multimodal logistics company, are collaborating to launch net-zero cold storage to address critical food waste challenges.

The vision is that no child should go hungry, and the mission includes tackling the ever-growing energy demand in India with renewable energy, according to the press release from Bootes.

Deepak Rai, Founder and MD, Bootes says: “There will be an unmatched rise in temperature in the coming decade. The energy consumption in the next decade will be higher than ever, and approximately 60 percent of crops might get wasted in India. Cold storage is expensive in India; a farmer cannot afford expensive cold storage systems, which is why net-zero cold storage is the need of the hour. Our cold storage model is aligned with the government’s net zero 2070 goals, and we hope that it will positively impact the children and the farmers of India.”

Manuj Adlakha, Founder and CEO, CargoPeople adds: “India’s cold chain sector faces unique challenges including frequent power outages, exorbitant operational costs, and fragmented infrastructure. These hurdles hinder efficiency and contribute to substantial food losses. However, the potential for growth is undeniable with the Indian cold chain market projected to reach Rs 3,79,870 crore by 2028, driven by rising demand and evolving consumer preferences. This collaboration has brought together our mutual expertise, resources, and commitment to making a positive impact.”

Bootes Cold Chain has partnered with Urban Systems urbs AB (URBS) to leverage their expertise in sustainable technologies and finance, which will be required in the Indian cold storage sector. Bootes Cold Chain sees this as a multi-billion-dollar opportunity to attract green financing for building new cold storage facilities. Their goal is to deliver $1 billion in net-zero cold storage projects over the next five years, says the release.

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