Vihar Pancholi, Founder, Maverick Inc
Monday August 24, 2009 , 4 min Read
The year 2005 - a group of technocrats and management professionals motivated by a common environmental cause came together to work towards a greener plant providing people investment opportunities in green technologies. And thus was born, Maverick Inc., the firm that specializes in the areas of Green Technologies and Carbon Commodities.
Vihar Pancholi, the brain behind Maverick Inc., graduated in Applied Chemistry from MSU Baroda, before moving to the UK to complete his MBA. After working for various companies between 1999 to 2005, Vihar decided to take the proverbial entrepreneurial leap and start his own company - one that would combine profits with a social cause.
After much deliberations with his friends and like-minded thinkers, Vihar founded Maverick Inc. in 2005 to provide project management and carbon credit consultancy services for renewable energy projects in India and abroad. “We are the group of professionals working for the cause - that of a green Earth for us, for our elders and for the next generation," says young entrepreneur Vihar Pancholi, head of Maverick Inc. He adds that, "the work is more of a responsibility and moral duty for our group, apart from being a mere source of income."
Maverick Inc. provides turnkey solutions for various renewable energy technologies including, Biomass Power generation, Carbon Credit project assistance and Carbon Credit Trading Services across India and the world. Besides these operations, Maverick Inc. also works as a management consultancy and provides all services that aid the investor in setting up the legal framework to bring in the money for executing his chosen project. “We work as a management consultancy and afterwards, set up the project and commission it. We also manage the project on behalf of the investor, providing him with key updates on timely basis,” says Vihar explaining his business model.
Maverick Inc. is the member of Chicago Climate Exchange (CCX), the number one auction platform for Carbon Credit in the world. According to Vihar, his biggest challenge his educating Indian companies on the benefit and need for Carbon credit trading. "The majority of industries in India are not fully aware about Carbon Credits, which facilitate steady investments coupled with an environment friendly approach towards building a greener planet. We are constantly endeavouring to educate and convince Indian corporates the whole concept of Carbon Credits and are hopeful that the whole market will gradually transform into an active platform once basic awareness levels are reached," says Vihar.
The journey so far has been more than encouraging, smiles Vihar, "We are growing at an annual growth rate of 50%. We have completed 13 major projects in India till date, with another 10 other projects currently in the pipeline. Our current focus is on SMEs and we aim to grow the business by 500% over the next three years."
Starting from a meager amount, Vihar set up his company in the office premises of his friend and began by organizing events and designing work for some major banks and clients in Vadodara. After working for 6 months, he shifted his office to a larger space and now has a branch in Mumbai and the UK as well. Vihar says that his biggest achievement though is "not the rapid expansion that his company has undergone, but the trust and respect he has gained from his clients". "The recognition by many pollution control boards and governments across the world has been the proof of the unflinching high standards we have set for ourselves," exalts Vihar. A first mover in its field, Maverick Inc. is known for having registered many pioneering projects with CCX from India. The first ever distillery project, first ever sugar mill project and other similar projects constitute the various feathers in the hat that Maverick Inc. prides in.
A true maverick by nature, Vihar says that the only thing that encouraged him to continue with his business with greater intensity
were his critics. The more criticism he received, the more confident he got to move forward to realizing his dreams. According to Vihar, there two milestones in his life, which he considers to be the most precious moments to him. The first was an invitation to his company from the Andhra Pradesh Government to join the State Pollution Control Board and the second was an invitation from his own school for some project work.
His advice to the budding entrepreneurs: "Follow your gut feel and instincts" - famous maverick words indeed. YourStory wished Vihar and Maverick Inc. all the success so that we all can breather in a greener environment in the years to come.