RECENT DEVELOPMENTS
Acquisition
Vikas Lifecare Limited is pleased to announce that, moving further ahead with the objective of broad-basing the product portfolio, and diversifying into futuristic and unique product lines, new edge businesses, complimenting and supplementing the existing business lines of the Company, we have entered into definite agreement with the existing promoters/shareholders for acquiring 75% equity of Genesis Gas Solutions Private Limited (the ‘Genesis’), a company engaged in the business developing “Smart Products” including Smart Gas Meters & Power Distribution solutions for the ever-expanding infrastructure in India.
>>
Genesis was Co-Founded in 2017 by a team of technopreneur’s and finance professionals has been specifically focused on the evolving City Gas Distribution sector.
>>
Genesis is the supplier of Gas meters to various CGDs of India, with having supplied more than 4 lakh meters of Hangzhou Beta Meter Co. Ltd (world’s first ranking gas meter manufacturer company), along with after sales services under exclusive supply arrangement.
>>
Genesis is smart metering solution provider (AMR & Prepaid) with RF based Lora WAN technology, partnering with Tata Communications.
>>
Vikas Lifecare’s Genesis Gas Solutions P. Ltd successfully develops and integrates for the first time in India, LoRa® technology MIUs (Meter Interface Units) for Indraprastha Gas Meters
>>
Genesis pioneers in Smart Gas and Water Metering in India and commands about 20% of the Domestic Gas Metering share in India.
>>
Genesis also does Smart Meter Interface Unit (MIU) and associated services being used by Indraprastha Gas Ltd - JV of GAIL, BPCL and Govt of NCT of Delhi
>>
Genesis Gas developed India’s first Meter Data Management (MDM)and Head end system for Gas utilities which run more than 150,000 smart meters in India.
Acquisition of Land
Company has acquired lands at various strategic locations with an ambitious target to have 100 – 150 Acres of cultivable land by the end of next fiscal i.e. by March 2023. for Agro Products business and to start various activities including Food and Crop Protection, Food and Crop Preservation and Storage, for developing and using modern techniques and facilities for cultivation like Green Houses, Glass Structures, Micro Irrigation, and Hydroponics etc. the Company has started acquiring lands
Enhancements in Intellectual Property
Company has filed the two patent for the technology on:
01
“Recycling of Multi Layered Plastics (MLP) and converting it to granules and products for societal applications”
02
“An improved process of recycling of waste plastic for making pallets & interlock tiles for industrial application”
