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Duron Energy aims Rs 2 billion revenue by 2015

According to reports, Duron Energy Pvt Ltd, a Bangalore-based company producing and selling solar lighting systems, has set itself a revenue target of Rs 200 crore for the year 2015. Given the fact that the company is only two-and-half years old and currently operates only in UP and in Karnataka, the target seems ambitious.
There is no doubt that tapping energy from sun light to light up rural homes is a huge business opportunity because close to 300 million people, living in 55 million households, do not have access to grid power in India.
Besides, with a peak power deficit of 13 per cent even people with power connections suffer from massive power cuts across all states in India. But the biggest challenge for companies selling solar power systems is the distribution and service delivery to rural areas, points out Duron Energy President & CEO Ajay Awasthi.
Wide range of products Duron sells a wide range of products starting from a system (solar panel, battery unit with microcontroller, and LED lights) that can support two lights and mobile charging and costs only Rs 5,000, to a system that can run lights, a laptop, a table fan, etc.
The company has its own manufacturing facility at Mysore along with a research and development facility. “The technology for solar lighting is fairly well established, prices of panels have dropped almost 40 per cent and our facility is equipped to meet any surge in demand. But the challenge essentially remains in terms of reaching across to the people who are in need of the lighting system,” says Awasthi.
Duron was founded by US-based Idealab, a renowned, California based incubator of technology companies.
Intel Capital, which invests in technology driven companies, has also invested in Duron as a part of its portfolio investment. The philosophy of Duron is to use latest technology to offer high quality, reliable and yet most affordable products to its customers. Over the last two years Duron has set up widespread village level sales and distribution network to ensure that the company is always accessible to its customers when they need.
Apart from individual houses, Duron’s customers come from different segments– from Bhatta owners, Beedi workers, farmers, shopkeepers, etc.
By 2015 the company plans to reach 260 districts and 426 districts by 2017, when it plans to reach Rs 500 crore revenue.

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