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.
EGG-energy is a for-profit company with a social mission to improve low-income customers’ quality of life by making available a convenient, safe, clean and affordable energy source. Since June 2008, a multi-disciplinary team from MIT and Harvard has been working on an innovative solution to bring affordable power to communities in the developing world. Our goal is to bridge the power distribution gap that keeps 1.6 billion people worldwide in the dark.
EGG-energy offers households and small businesses in Tanzania a battery subscription service that provides electricity sufficient to power lights, a radio, and a mobile phone. Customers pay a subscription fee for the portable, rechargeable battery and a small fee to swap it for a fully charged battery. According to EGG-energy, Tanzanians spend more than 10 percent of their income on kerosene or disposable batteries, yet 80 percent of Tanzanians live within 5 kilometers of the energy grid. EGG-energy seeks to solve the distribution problem and offer customers comprehensive electricity services at a lower cost than what they are currently spending. In 2009, EGG-energy was a 2009 MIT IDEAS Competition award-winning team. In 2010, they won the prestigious Echoing Green Fellowship.