Q1: Could you shed some light on the space of sustainable construction in India. What are the nature of innovative products that are coming up and how is the demand outlook shaping up?

The construction sector is always regarded as one of the most orthodox sectors but their view towards sustainability has picked up in recent years. India being a price sensitive market, price is the biggest obstacle for adoption. Innovations that are cost-effective or saving cost have clearly gained market share. In terms of the products in the construction space, a lot of innovation is coming out.

From 3D printing of buildings, Innovative materials like REX, project management & inventory management software to innovative building materials made from waste like plastic. I strongly feel that construction as a space is so large in terms of size and numbers, that even a small market of this big chunk can be large for startups to gain.

I also believe that doing pilots & real life testing in India is quite easy when you compare it to developed countries like the western world. If we look at the numbers coming out from IGBC Green buildings that are being erected, I am hopeful that the future is bright for sustainable products in the space.

Q2: Given that sustainable construction materials are gradually attracting interest, how does Recyclex differentiate itself from other players in the sector?

Could you share with us a little about your business model and the nature of technological innovation that you are building?

At the start, Recyclex also was a company looking to develop innovative construction materials but our approach in the last 1 year has completely changed. RecycleX at the core is now a material tech company that has developed an eco-friendly material REX or Eco-Concrete. The biggest challenge in the construction material space is not innovation anymore, it’s the scale and the price points that you can offer to the industry.

We have developed the technology but to scale and to deliver to customers pan India, we have adopted an asset lite model. We are partnering up with local manufactures and aid their manufacturing capability with our technology and make products that are eventually delivered to our customers looking for Innovative and Eco-friendly products.

Q3: Given that sustainable construction materials are looking to replace conventional materials, how do REX-Bricks and REX-Pavers fare when compared to competitive products, both in terms of quality and economics? What is your approach towards building a pathway to profitability?

The core innovation and the differentiation between traditional products is the elimination of cement and usage of industrial by-products. Cement inside concrete is the most expensive and the material with the highest CO2 footprint. Once we have eliminated this, the products become eco-friendly and cost-effective. Other things that make our product a perfect solution is the same physical appearance, performance and the manufacturing process. This makes REX-Bricks and REX-Pavers as the perfect alternative to traditional products available.

Q4: Given that RecycleX with its products prioritizes minimizing carbon emissions within the construction industry, how do you assess the environmental impact of your solution? What are some of the impact metrics that you are tracking or intend to track in the near term?

Impact of products is a very broad subject. For us, key metrics are:

1) Carbon Dioxide offset by each unit.
2) Waste recycled by manufacturing each unit.
3) Natural resources saved by utilization of our products.

The environmental impact and the metrics for the 2nd and 3rd parameter are very clear and tracked by us. On carbon emissions, we have a LCA report for our products that showcases that our products are Carbon negative and it offsets carbon emissions when compared to traditional products.

Q5: Since your founding in 2020, you have already worked with municipal authorities, commercial builders and government schools. As you continue to grow, what kinds of partnerships— whether in terms of capital support or technical assistance that you would like to build?

Additionally, what are the key areas that you are prioritizing as you scale your business in the near term?

In the last 3 years, we have worked with a lot of organizations. The biggest support as a bootstrapped startup like us would be capital support from the government or any other form of grants. Apart from that, a lot of our resources in terms of capital is utilized for R&D and testing. If we can get technical assistance from laboratories or institutions like IIT’s for technical testing it would really be helpful. In terms of priorities, they are very clear, to find companies or organizations that are looking for green products, partner up with them, do pilot projects and finally bring them into our pipeline as customers.

Q6: Given that sustainable materials is an evolving space in India, what are some of the sectoral challenges that early-stage enterprises need to be mindful of? What could be the way to mitigate some of these constraints?

Construction in India is a very large unorganized sector, there are several challenges for early stage enterprises but there are also gaps that can be captured. Every startup has its own journey, unique business model and thought process. My general advice to mitigate these constraints would be having mentors from the industry. This would help you to understand the current thought process and ropes of the game.

Background of RecycleX:

Recyclex is decarbonizing construction with its revolutionary material Eco-Concrete or REX by eliminating cement and using industrial by-products. The vision is to replace traditional concrete with Eco-Concrete & in the process save Tonnes of Carbon Dioxide emissions and recycle waste.