AGC Innovate secures First Place
AGC Innovate (Pvt) Ltd has been selected as the winner of the Country Finals of Innovate Lanka 2022 Competition, organized by the Lankan Angel Network together with SLASSCOM and the Council for Startups. The Winner AGC International and the Runner – Up will be representing Sri Lanka at the Entrepreneurship World Cup 2023 hosted by the Global Entrepreneurship Network GEN. They will also access opportunities with Accelerators & Incubators as Indian Accelerator, Sri Lanka Accelerator, Venture Frontiers etc.
AGC Innovate (Pvt) Ltd has won this prestigious award for their innovative product Plastic Modified Asphalt Concrete (PMAC) the sustainable solution to the ever-increasing waste plastic environmental menace by utilizing green technology to convert waste plastics into an industrial raw material which becomes a stronger and more effective alternative to conventional asphalt, used for Highway, Road and Car Park paving.
The program operates in a sustainable tri-partite stakeholder model comprising Generator, Technology Provider and End User, in which the country and the environment gains benefit when the industries, supermarket chains, households, etc. who are waste plastic Generators meet the End User by using the Technology Provider’s scientific innovation to convert non-recyclable plastic waste to produce the end product Plastic Modified Asphalt Concrete PMAC to be used for Road, Highway and Yard Paving.
The technology piloted in 2018 under the supervision of the national regulator, RDA on a stretch of highway in Ratmalana, has been certified as an environmentally suitable initiative following more than two years of rigorous testing and observation has also received CEA Certification and is registered with the National Intellectual Property Agency of Sri Lanka.
The technology has been successfully used during the past three years by leading Supermarket chains for their car-parks, Roads under the Western & Eastern Provincial Road Development Authorities, Foreign Embassies, mega export-oriented factory yards, and leading business houses who emphasize on reducing the carbon footprint and bring a logical solution to terrestrial, riverine and ocean pollution caused by waste plastic.