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PRESS RELEASE: OMC selected World Economic Forum Technology Pioneer

OMC Power Selected by World Economic Forum as 2014 Technology Pioneer

Delhi, India, August 27 2013OMC Power has today been recognised by The World Economic Forum for its innovative and pioneering work in supplying renewable energy to communities and mobile networks in rural India.

OMC is a new type of power company – a RESCO (Renewable Energy Service Company) – which finances, builds, owns and operates Micropower Plants in rural areas in India where the electricity grid will never reach.

More than 400 million people in India live and work without electricity. OMC is the first power company to transform the provision of electricity in rural India into a commercially viable, sustainable and scalable business. Its Micropower Plants – small-scale, local power plants using renewable energy sources – vastly improve the quality of life and stimulate economic growth and prosperity in the areas where they are deployed.

According to The World Economic Forum, its Technology Pioneers 2014 comprise 36 companies that are the most innovative technology start-ups with the potential to transform the future of business and society. Previous Technology Pioneers include Google (2001), Wikimedia (2008), Twitter (2010) and Kickstarter (2012).

Each year the World Economic Forum chooses a select number of Technology Pioneers from many hundreds of applicants. Candidate companies are nominated by members, constituents and collaborators of the World Economic Forum, and by the public. A selection committee, comprised of top technology and innovation experts, academics and venture capitalists, reviews all applications before making its recommendation to the World Economic Forum.

OMC’s Micropower Plants – currently 11 in commercial operation – are in off-grid locations where most people have mobile phones but the only sources of energy are kerosene and diesel.

Every day, OMC Power delivers solar charged LED lanterns and portable PowerBoxes to homes and small businesses in rural areas of Uttar Pradesh (India’s most populous state). The PowerBoxes – portable power sockets – are used to power a variety of electrical appliances including mobile phones, LED lights and fans.

Driven by demand from OMC’s customers, the company has also started trials of electric bike rentals in six areas and will start full commercial services later this year. The 2014 roadmap includes WiFi and TV.

OMC Power also supplies green electricity to telecom towers – enabling mobile operators to instantly turn off the diesel generators which currently power remote and rural telecom towers, saving large amount of diesel and curbing emissions.

This is the third major accolade of the year for OMC. It was selected as a finalist in the 2013 Ashden Awards, the world’s leading green energy prize, and was awarded the ”Best Consumer Service Innovation Award” at Global Telecoms Business Innovation Awards 2013.

Anil Raj, co-founder and CEO of OMC Power, says; “OMC Power is a bit different to many of the other companies which are and have been World Economic Forum technology pioneers. We are an infrastructure company and have spent several years working out how to profitably and sustainably provide electricity in remote rural areas. In this we have succeeded and are proud to have our work recognised by the World Economic Forum”.

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