What is Compostable Plastic for which Govt has approved Startup Loan of Rs 1.15 Crore? - Explained
What is Compostable Plastic?: Union Government has approved a startup loan of Rs 1.15 Crore for development of Compostable Plastic which can replace the Single Use Plastics (SUP). The loan has been approved for Satara Based start-up TGP Bioplastics Private Limited, which will be manufacturing it.
What is Compostable Plastic?: Union Government has approved a start-up loan of Rs 1.15 Crore for the development of Compostable Plastic which will be an alternative for the SUP or Single Use Plastics. The Start-up was approved by the Union Minister of State (Independent Charge) Science & Technology and Earth Sciences and MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh. The loan has been sanctioned for a Satara Based start-up TGP Bioplastics Private Limited, which has been entrusted with the task of manufacturing and commercialising “compostable” plastic. The Startup firm has developed a prototype of Compostable Plastic through seed funding offered under NIDHI Prayas(DST), Niti Aayog and UNIDO. Backed by the funding received, the company plans to expand its production capacity for Compostable Plastics to 880 Metric Tonne/year.
What is Compostable Plastic?
As the name suggests, Compostable Plastic means plastic-like material which will is easily biodegradable and will convert into compost in the soil. The company uses a unique blend of Thermoplastic-Starch (TPS)-glycerine as a primary raw material for the production of compostable plastics. TPS is treated with some chemicals to modify its physical properties and add more strength to the compostable plastic.
Further, using TPS as a primary ingredient for the production of compostable plastic also keeps the production cost much lower as compared to other bioplastics available currently in the market. Due to the chemical treatment that the compostable plastic material undergoes, the composite has the ability to be moulded into any shape and size as required. After being used, the material will break down into natural substances without having any adverse impact on the environment.
Benefits of Compostable Plastic
No Adverse Impact on Environment: As per the press release, TGP Bioplastics, which is a firm based in Maharashtra, has developed an alternative form of plastic which is compostable in nature. This means that unlike Single Use Plastics (SUP) which are currently in circulation and used extensively for packaging solutions, Compostable Plastic will convert into compost directly into the soil without having any adverse impact on the environment.
Low Cost of Production: Another key benefit of Compostable Plastic is the cost efficiency factor. Unlike the Single Use Plastics which are currently in use, the cost of production of Compostable Plastics would be much lower. The Compostable Plastic Prototype which has been developed by TGP Bioplastics can be manufactured for Rs 180/- per kg.
Same Strength and Properties as Regular Plastic: In terms of strength, elasticity and retention, compostable plastic has exhibited similar properties as regular plastic.
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