The cleantech sector is attracting considerable investor interest due to its alignment with global sustainability goals, says Siddharth Dixit, founder of Amida Cleantech

In an exclusive conversation with BW Businessworld’s Arjun Yadav, Siddharth Dixit, Founder and Managing Director, Amida Cleantech speaks about the potential of the outdoor clean air market, the company’s inroads into newer geographies and government regulations creating new opportunities in this space. Excerpts:

What inspired the development of Amida’s holistic approach to air cleaning?

When Amida Clean Tech started, it was based on a theoretical approach to mapping urban clean air problems. The company used two core filters to guide its product development: identifying pollution pain points in urban environments and focusing on areas affecting the most number of people. Clean air was becoming an issue of public awareness around 2016-2017, but our team realised it needed a solution that addressed pollution on a broader scale. They recognised that urbanisation and consumption contribute heavily to pollution, so our solutions needed to address both indoor and outdoor environments.

We developed a comprehensive clean air technology that tackles pollutants of all sizes, from nano-scale particles to larger particulates, harmful gases, and pathogens like viruses and bacteria. This approach was visionary, as awareness of viral pathogens was much lower before Covid-19. Our solutions aim to work across multiple environments, including infrastructure spaces like metro stations, airports, bus shelters, and even indoor environments such as offices and residential complexes.

What makes your technology of high-efficiency outdoor air cleaning systems stand out compared to existing solutions?

Our technology uses nanoscience to break down air molecules, allowing them to treat large volumes of ambient air. Unlike other systems that merely capture pollutants, our solution turns particulate matter into non-toxic dust, which is easily disposed of and converts harmful gases into noble gases. This approach also addresses pathogens like viruses and bacteria by eliminating their transport vectors, improving air quality.

Our system’s filter-less design makes it unique. This design simplifies integration with existing air handling units (AHUs), HVAC systems, and central air conditioning setups. Since there are no filters to get clogged, there is no pressure drop, and the system can operate efficiently across various environments.

What has been the reception to your solutions in the market?

We started within the infrastructure space, commercially launching our product towards early 2020 in Spain and France, where we supplied to major infrastructure projects like the Paris Metro and French Railway. In India, we have collaborated with municipalities to install their systems in public parks and metro stations, residential developments, commercial developments, malls, and IT parks, expanding our indoor and outdoor footprints.

In these four years, the idea has been to be completely product-ready with successful applications. Our series of inventions got patents in the US and India last year and, in September 2024, even in the EU. So, we are now positioned to expand in terms of front-end distribution and creating the whole supply net.

What geographies are you targeting next?

We are present in India, France, and Spain, with early inroads into the UK. Due to its attractiveness, the US is our next target market, but we are cautious about entering it without a full-fledged local presence. Building a strong brand requires a dedicated local focus, especially when entering a new market.

How do you see the regulatory landscape evolving in India concerning urban air quality?

In recent years, the Indian government has taken significant steps, such as the Clean Air Mission and stricter regulations on pollution control for backup energy devices like diesel generators. These initiatives have opened up new market opportunities, especially in urban landscapes where air pollution is a major issue.

We expect further government support as air pollution becomes a more prominent issue globally. 97 per cent of urban centres fail to meet IHO clean air standards. We are optimistic that this will drive demand for clean air technologies in both preventive and reactive healthcare, especially as awareness grows about the health costs associated with air pollution.

How is the investor community looking at this sector? Are you planning to have a funding round?

The cleantech sector is attracting considerable investor interest due to its alignment with global sustainability goals, such as reducing carbon footprints and promoting clean

development mechanisms. We have been bootstrapped and funded by internal accruals, but we are open to raising external capital within the next 12-18 months to support our growth ambitions.

Your take on the future of the market and the region that will drive the demand?

The global indoor air market, primarily driven by filters, is expected to reach $35 billion by 2030, with the largest demand coming from Asia. The diesel genset market, driven by new regulations, also presents a significant opportunity in India. We see the outdoor and transport sectors as even larger growth areas and will surpass the indoor market in the future.

What’s the kind of growth that company has seen in these four years and how well positioned it its future expansion?

Since our commercial launch in 2020, the company has seen impressive growth rates of 200-300 per cent, despite a slowdown during the Covid-19 pandemic. We are now focusing on scaling up sales and distribution channels and expanding into new verticals in India and internationally, particularly in the EU, US, Southeast Asia, and the Middle East.

In terms of revenue, the company expects an 8x increase compared to last year, with a target of doubling or tripling annual growth in the coming years. With strong bottom-line and top-line growth, the company’s financial health is well-positioned for future expansion.