Innovations Item Code: IN-2024-2100492
Sector: Renewable/Green Energy
Description:
Solaristique offers an innovative solution by repurposing old fridges and freezers into solar-powered cold storage units. Our solar freezers, crafted from recycled appliances, boast a double-chambered design, ensuring functionality even in low sunlight. This innovation results in a remarkable 50% reduction in costs compared to traditional solar freezers.
But the innovation doesn't stop there. Solaristique incorporates cutting-edge Internet of Things (IoT) and Management Information System (MIS) technologies into our cold storage units. These features enable real-time tracking of carbon offset and food loss data associated with product usage.
Here's where it gets exciting: users can leverage this data to participate in the carbon credit market via blockchain technology. By trading these metrics, users can earn secondary income effortlessly. The process is simple: as users store their food items in our solar-powered cold storage units, the units generate carbon offset credits based on reduced food waste and emissions. These credits are then traded in the carbon credit market, with the earnings distributed among the users in accordance with their contributions to offsetting carbon emissions and reducing food loss.
This dual-purpose approach not only promotes sustainable practices but also empowers users economically. By simply using Solaristique's cold storage solutions, individuals, businesses, and communities can play an active role in combating food waste and climate change while earning additional income. It's a win-win solution that addresses both the economic and environmental dimensions of Nigeria's food waste crisis, offering a pathway to a more sustainable and prosperous future for all.
Stage of Innovation: MVP (You have a product ready to go to the market)
Problem:
45% of food losses and wastes in nigeria is caused by poor cold storage application (Rcokerller foundation, 2018). Poor cold storage application in attributed to unstable power supply. Which makes constant cold storage to be difficult and expensive. Poor cold storage applications in Nigeria's agricultural sector cast a long and shadowy specter over the nation's food security, economic stability, and environmental well-being.
The crippling impact of inadequate cold storage and preservation facilities manifests in a colossal loss of over 16 million metric tons of food annually. This translates not only into a devastating economic toll, with estimated losses surpassing a staggering 12 billion USD per year according to PricewaterhouseCoopers (PwC, 2018), but also results in a tragic squandering of resources that could sustainably feed a staggering 100 million people for at least 24 months.
Beyond the economic ramifications, the environmental fallout is equally distressing. The absence of effective cold storage mechanisms contributes to the emission of approximately 5 million metric tons of methane gases annually, further exacerbating Nigeria's environmental challenges. These emissions contribute significantly to the country's greenhouse gas footprint, constituting 5% of the nation's total emissions, as reported by the World Bank in 2020. Moreover, the sheer scale of food wastage and losses accounts for a mind-numbing 40% of the total food production, engulfing 31% of the nation's land resources.
This grim scenario not only undermines Nigeria's food security but also propels it into a vicious cycle of environmental degradation and economic hardship
Unique Selling Point: In the absence of our innovative off-grid cold storage solutions, consumers in Nigeria often resort to traditional solar freezers and cold rooms that heavily rely on battery-dependent systems. This reliance on batteries has contributed to the high cost of solar freezers, creating a significant barrier to widespread adoption among the Nigerian population. Recognizing this challenge, our company has developed a revolutionary freezer system that operates without batteries, retaining high refrigerating capacity for four days even without external power. This breakthrough technology is poised to slash the cost of solar freezers by over 50%, making our products significantly more affordable than existing alternatives in the market. Unlike competitors, such as Go Solar Africa, koolbox, and Cold Hub, whose solar freezers are battery-dependent, our batteryless freezers offer a unique selling proposition. This not only addresses the cost constraints associated with battery-dependent models but also enhances the overall reliability and accessibility of our cold storage solutions. The four-day refrigeration capacity without power ensures uninterrupted cold storage, catering to the needs of users in off-grid locations or areas with irregular power supply. Furthermore, our commitment to sustainability extends beyond the product itself. The incorporation of Internet of Things (IoT) and a Management Information System (MIS) allows us to capture valuable food waste/loss reduction data. We are pioneering the monetization of this data through blockchain technology in the carbon market, offering an innovative approach to addressing environmental concerns while providing users with an opportunity to earn a secondary income. In addition to our solar freezers, we introduce a practical alternative through special ice blocks that do not defrost for four days. This addresses the needs of individuals who may not afford the solar freezers or require temporary cold storage. Our comprehensive suite of solutions, coupled with a commitment to affordability, reliability, and environmental impact, positions us as leaders in the industry, differentiating us from competitors and readily available substitutes in the market.