Vision: Our vision is primary recycling and developing a circular economy to replace the current linear economy of the disposal of plastic waste. In a circular economy, products and materials are being re-used, refurbished, or recycled according to the waste hierarchy, instead of being incinerated or disposed of in landfills. In this process, we will be generating Carbon Credit for negating the plastic that would have made its way into landfills. This proposal will negate 5 tons of CO2 emissions to 1 ton of plastic waste recycled.
The generated carbon credit can be traded on the Cardano Ecosystem using NFTs. Our process is able to negate the CO2 emission at a grassroots level. This being an environmental project can position Cardano as an environmental focused ecosystem.
The Process:
Our focus is on the Primary recycling process or closed-loop recycling. The material can be recycled to form products with the same properties as the previous product, hence the plastic polymer remains in the same ‘loop’. Primary recycling takes place for pre-and post-consumer (mono-stream) plastics.
Our Primary recycling process aim is to set up a plastic waste conversion facility wherein the plastic waste is converted into a polymer and mixed with various by-products such as Slag Sand and Fly Ash from the Steel and Power industry to produce sustainable building material.
The Delivery:
The above process will convert plastic waste into a polymer as a binder to substitute cement and reclaimed sand/ash from the Steel and Power industry in the manufacturing of Paver Block.
The Location:
Our plan is to locate the project in Tamil Nadu as this is the second-largest plastic waste generator in India. Once the teething problems are addressed we plan to replicate these processing centers in other states in India and in the neighboring countries.
The Outcome:
We plan to process 2 tons of Plastic waste a day, this has a positive impact on the environment and will be negating 10 Tons of CO2 emissions a day.
For a month we will negate 260 Tons of CO2 emissions, and for the year negate 3,120 tons of CO2 emissions.
This would translate to 3120 tons of Carbon Credits which can then be traded on the Cardano Ecosystem using NFTs.
The KPI of our project is in direct alignment with the two challenges Growing India Grows Cardano and the Miscellaneous fund for the reason stated below.
We are integrating Cardano into one of the grassroots issues of India today of plastic disposal. Would this not be the wonderful stepping stone for Cardano to enter India by helping address a major environmental issue faced in India, thereby building awareness about the Cardano ecosystem and tokenizing this gesture by trading Carbon credits on the Cardano ecosystem
One of the biggest challenges is that this project requires a large amount of funds for the purchase of equipment. We have decided to invest in stages to mitigate the risks.
Stage One - Fund 8: We would undertake in-depth research on the availability of the required raw material that is Plastic waste and slag sand and fly ash are available in proximity throughout the year. Based on our findings, locate the processing center in the area.
To mitigate this, we propose to first build a prototype of the paving block and then subject it to a series of tests. On meeting the required approval only, then would we go ahead with the second phase which is the investment into the machinery and building which is capital intensive.
We are confident that based on our performance in stage 1, we can participate in Fund 9 and take the project forward and start to generate carbon credit by negating the CO2 emissions thereby generating CNFTs.