India’s energy future depends on more than solar and wind—it needs deeptech heroes converting waste into energy. Among the most promising players is Cancrie, a waste to energy startup in India that transforms industrial waste into high-performance battery materials.
Founded in 2020 in Jaipur by Dr. Akshay Jain (ex-Tesla, chemical engineer) and Mahi Singh, Cancrie is India’s first mover in turning rice husk, plastic waste, and slag into nanocarbon components for lithium-ion batteries and supercapacitors.
Their mission? To create sustainable, low-cost energy storage materials that reduce carbon footprint, improve battery efficiency, and divert waste from landfills.
Key Milestones by Cancrie – India’s Waste to Energy Innovator
- CSIR-validated tech: 12–15% more efficient than conventional battery materials
- 40% lower production costs
- ₹4.2 Cr revenue in FY 2023–24
- 3 pilot projects with Indian battery manufacturers
- 12 granted patents
- Raised ₹9.8 Cr in funding (₹3 Cr grants, ₹6.8 Cr seed)
With support from Micelio and Speciale Invest, Cancrie is scaling to meet India’s ₹15,000 Cr battery opportunity.
Business Model: How This Waste to Energy Startup in India Makes Money
Cancrie operates on three revenue streams:
- Material Sales (60%):
- Silicon Anodes: ₹1,250/kg
- Supercapacitor Substrates: ₹3,500/kg
- Licensing Model (25%): Licensing their waste-to-material process to other clean tech firms
- Government Projects (15%): Smart Cities Mission, defense storage, and public grid pilots
Core Inputs:
- Rice Husk → Silicon Anodes
- Plastic Waste → Carbon Nanotubes
- Industrial Slag → Conductive Additives
Financial Snapshot (FY 2023–24)
| Metric | Value | Benchmark |
|---|---|---|
| Revenue | ₹4.2 Cr | 3x YoY growth |
| Gross Margin | 52% | Near-zero input costs |
| Operating Margin | -18% | Due to R&D investments |
| Energy Saved | 8.7 MWh | Delivered to clients |
Why Cancrie Is a Unique Waste to Energy Startup in India
Cancrie stands out as a deeptech pioneer by converting waste into wealth—transforming low-value materials like rice husk, plastic waste, and industrial slag into high-performance battery-grade materials. It is the first waste to energy startup in India to achieve this at scale, making it a crucial player in India’s green energy transition.
What sets Cancrie apart is its strong intellectual property portfolio, with 12 granted patents covering its proprietary material extraction and synthesis process. These patents ensure both technological defensibility and licensing potential across global markets.
Environmentally, Cancrie offers significant advantages. It reduces the carbon footprint to just 0.8 kg CO₂/kg, compared to the industry average of 3.2 kg CO₂/kg—a 75% drop in emissions. Its battery materials are also 30% lighter, enabling better performance, energy density, and efficiency in EVs and stationary storage systems.
| Metric | Cancrie | Industry Standard |
|---|---|---|
| Carbon Footprint | 0.8 kg CO₂/kg | 3.2 kg CO₂/kg |
| Weight Reduction | 30% lighter | – |
Cancrie’s processes are globally certified, holding ISO 14001 for environmental management and AIS-038 compliance for EV battery safety—ensuring both operational integrity and global compatibility.
These advantages make Cancrie not just a sustainability story, but a performance-driven solution for modern energy challenges. By bridging waste management with battery innovation, Cancrie is well-positioned to serve India’s growing cleantech sector and global battery manufacturers alike.
This unique positioning reinforces Cancrie’s leadership as a standout waste to energy startup in India, aligning innovation, impact, and industry-scale readiness.
| Feature | Cancrie | Conventional Materials |
|---|---|---|
| Energy Density | 180 Wh/kg | 160 Wh/kg |
| Charge Cycles | 1,500+ | 1,200 |
Cancrie’s Growth Plan: 2024–2025
- 5x production capacity scale-up
- Add 2 international battery OEMs as clients
- R&D into sodium-ion batteries
- Target FY25 revenue: ₹18 Cr
- Process 500+ tons of waste/month
- Gross Margin Goal: 58%
Investors & Cap Table
| Shareholder | Holding % |
|---|---|
| Founders | 68% |
| Micelio + Speciale | 27% |
| ESOP Pool | 5% |
Fund Allocation:
- 60%: Pilot Production Line
- 25%: Certifications
- 15%: Talent Hiring
Sources
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