Promethean Power Systems, founded by MIT alumni, has developed a solar-powered refrigeration system for commercial cold-storage applications in off-grid and partially electrified areas of India. Their technology enables food suppliers to store and preserve perishable food items—such as milk, fruits and vegetables—without the need for expensive diesel-powered generators. The company believes that creating a cost-effective solution for cold-chain food distribution in emerging markets is an excellent business opportunity that could deliver enormous social and environmental benefits.
The MIT Sloan student team will help develop a market research and technology road-map that will help Promethean expand. The team will assess countries for expansion and determine market sizes for the primary markets commercial cold-storage. In addition, the team will look at new markets beyond milk chilling and identify potential partners and acquisition targets. Finally, the team will develop a technology road-map for product development by recommending activities that will ensure Promethean is constantly seeking out and applying the latest technology break-throughs for their chilling system.