US-based IceCold enters India; eyes Rs 100cr sales by FY16

US-based refrigerant technology provider IceCold today entered the Indian market and is eyeing Rs 100 crore revenue by the end of the next fiscal.
"We are thrilled to foray in India with our revolutionary product. We are eyeing Rs 100 crore turnover by end of financial year 2015-16," said EcoCool World, LLC Chairman Bhavesh D Patel told PTI.
With presence in 28 countries, EcoCool World makes IceCold products and has tied up with EcoCool Tech which has the licence to operate in India.
The company said it is in talks with some major diary producers, hotels and retail chains to provide cooling solutions.

"We are already in talks with some major diary producer of the country and also a hotel in Delhi where we have almost at the verge of completing the deal," Patel said.
However, the company declined to comment on the quantum of investment it will make in the country.

Talking about the technology, Patel said: "It is a non- toxic, non-hazardous, green technology which increases cooling efficiency and protects equipments like refrigerators and air-conditioners among others."
US accounts for around 60 per cent of the company's total revenue and the company is expecting India to contribute 10 per cent of its revenue.

"Across the globe we have clients like fastfood chain McDonalds and US Government among others and we hope we can make big strides in India. We have already installed our system in Infosys who are very satisfied with the energy efficiency," Patel said.
The company will initially import products from the US and later, with increased demand, it may set up a manufacturing unit in the country, he added.