Source: Vortex Engineering Pvt Ltd
Thursday, March 11, 2010 12:30 PM IST (07:00 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Energy companies
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Vortex Engineering Leads India's First large-scale Rollout of Solar ATMs
Wins Order from State Bank of India for 545 ATMs
Chennai, Tamil Nadu, India, Thursday, March 11, 2010 -- (Business Wire India) -- Vortex Engineering, a pioneer and leading provider of Rural ATMs (Automated Teller Machines), today announced India's first large-scale rollout of Solar ATMs. This rollout follows the winning of an order from State Bank of India for a deployment of 545 ATMs across semi-urban and rural India. Of these 545 ATMs, over 300 will be solar-powered.
Vortex's Solar-powered Gramateller Duo ATMs have been developed in collaboration with IIT Madras. Built on years of R&D, with a steady focus on rural needs, these are innovative low power consuming ATMs tailor-made for semi-urban and rural areas.
A conventional ATM consumes about 1000 W of power and requires an air-conditioned environment-another 1500 W-for functioning. Thus, a conventional ATM consumes about 1800 units of power every month.
Vortex's Solar-powered Gramateller Duo ATMs consume less than 100 W of power and do not require air conditioning, thus consuming less than 72 units per month. This indicates a saving of 1728 units per month and at least Rs 1,20,000 per year (at a conservative commercial rate of Rs 6 per unit) when compared to a conventional ATM installation. Compared to conventional ATM installations, Vortex's solar-powered Gramateller Duo ATMs reduce CO2 emissions by at least 18,500 kg per year.
Commenting on the rollout, Mr. V Vijay Babu, CEO Vortex Engineering, said, "Vortex was founded with the focus of improving the quality of rural life by building technology for practical use. This commercial launch of solar-powered ATMs is a moment of great pride and gratification for the Vortex team. With an ATM penetration of about 0.04 per 1000 people in India, there is a huge need for Rural ATMs. With this solar innovation becoming a viable option, Vortex looks forward to revolutionising the Rural ATM market. The company is extremely thankful to IIT Madras and State Bank of India."
| The Solar Revolution: Vortex Gramateller Duo |
|---|
| Power consumption | IMT Reduced by 1728 units per month (up to 96% saving) |
| Reduced by 1728 units per month (up to 96% saving) | Reduced by 18,500 kg per year |
| Air-conditioning | Not required |
| The Optimum for semi-urban and rural areas |
|---|
Vortex's Solar-powered Gramateller Duo ATM is the latest product in the company's well-known Gramateller Rural ATM series. With built-in Biometric capabilities, Gramateller ATMs have been used by the Government to disburse wages under the MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) programme.
About Vortex Engineering
Headquartered in Chennai, Vortex Engineering Pvt Ltd is a pioneer and leading provider of innovative low power consuming ATMs tailor-made for semi-urban and rural areas. Built on years of R&D in collaboration with IIT Madras, and with a steady focus on rural needs, Vortex is now changing the face of banking with its Gramateller ATMs.
Vortex is led by entrepreneurs and IIT alumni, L Kannan (Founder and CTO) and V Vijay Babu (CEO). Vortex benefits from the presence of luminaries like Ray Stata(Founder and Chairman, Analog Devices), Jean-Philippe de Schrevel (Chairman, Oasis Fund), Arun Diaz (Management Consultant; formerly Head, Programme and Change Management, Standard Chartered Bank), et al on its board.
Please visit www.vortexindia.co.in.
CONTACT DETAILS
Nishant Maller, 20:20 MEDIA, +91 9840070444/ +91 (44) 30985600, nishant@2020india.com
Nikhila Kesavan, 20:20 MEDIA, +91 9840124036/ +91 (44) 30985600, nikhila@2020india.com
KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, ENERGY
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