New Delhi (India), February 2: Vikas Lifecare Ltd., listed on BSE (Scrip Code: 542655) and NSE (Scrip Code: VIKASLIFE) has informed that its recent acquisition Genesis Gas Solutions Pvt Ltd (Genesis) has successfully developed and integrated LoRa® technology MIUs (Meter Interface Units) into pre-paid and post-paid gas meters, which are deployed and currently operational at Indraprastha Gas Ltd. (IGL).
Genesis is in the advanced stages of designing and manufacturing LoRa® Modem, LoRa® Gateways and Application Servers for LoRa® end devices. Vikas Lifecare Ltd. recently announced the acquisition of 75% equity of Genesis which is engaged in the business of developing “Smart Products” including Smart Gas Meters & Power Distribution solutions for the infrastructure segment.
Genesis is the first and the largest implementor of LoRa® technology in Smart Gas Metering in India and operates through leading operators of LoRa® in India and has also done few pilot projects outside India as well for the development and integration of this advanced sophisticated technology.
LoRa®is essentially a ground-breaking Long Range, Low Power Wireless Platform enabling the world to become a Smart Planet, LoRa® devices have amassed several thousand known uses finding applications in smart cities, homes and buildings, communities, metering and utilities, supply chain and logistics, industrial, retail, agriculture, and more.
According to Semtech, the developer of LoRa® Technology, LoRa® end devices and networks such as the LoRaWAN® enable smart IoT (Internet of Things) applications that solve some of the biggest challenges facing our planet: Smart energy management, natural resource reduction, pollution control, infrastructure efficiency, and disaster prevention.
LoRa® is the de facto platform for “Low Power Wide Area Network” (LPWAN) technology for the “Internet of Things” (IoT). The LoRa® “Integrated Circuit” (IC) is the ultimate solution for eliminating repeaters, reducing cost, extending battery life, and improving network capacity, providing for upto 10x the range and about 3x less power than other IoT technologies.
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 pioneers in Smart Gas and Water Metering in India and commands about 20% of the Domestic Gas Metering share in India. Genesis developed LoRa® based communication modules to solve the problem of having smart metering with a very low cost of network as well as having a sufficiently long battery life in Gas meters. These modules can power, Gas as well as Water Meters. LoRa® networks offer the lowest TCO (Total Cost of Ownership) and offers a longer range amongst the IOT alternates. Genesis holds exclusive rights with Beta Gas Meters, which is one of the top companies from China operating in the field.
Vikas Lifecare Ltd. (VLL) is an ISO 9001:2015 certified company, historically engaged in the business of trading and manufacturing of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic & Natural Rubbers. The company has been conventionally engaged in various business segments including Polymer & Rubber Commodity (bulk consumption) Compounds and Master-Batches. Manufacturing Up-Cycled Compounds from industrial and post-consumer waste and scrap materials like EVA, PVC, PP, PE etc., directly contributing to the Environment Protection initiatives from the Government of India and fulfilling the mandated EPR obligations for the conglomerates using hundreds of thousands of tonnes of plastic products and packaging materials.
VLL is also a Del-Credere agent of ONGC – The Oil and Natural Gas Corporation Ltd.” Petro Additions Limited, a public sector undertaking producing a wide variety of base polymers and commodity plastic raw materials.
VLL has a division engaged in Agro Products Business, The Company is empanelled with NAFED – The “National Agricultural Co-operative Federation of India” and HOFED – The “Uttar Pradesh Horticultural Co-Operative Marketing Federation”
VLL intends establishing/acquiring businesses in these segments thereby expanding its footprint in the country and beyond.