Existing solar-powered units run on batteries which need to be replaced after 2-3 years making the running cost very high for farmers.

It is estimated that every year India loses around 30 per cent of food production due to wastage and contamination.

"We want to provide farm-level solar cold storages in areas that lack access to grid connected electricity. By increasing the shelf life of agriculture produce, it will improve farmers' livelihood by reducing losses and allowing better price realisation," Pandey said.

Meant for horticulture produce, the micro cold storage system has a capacity of 5 metric tonnes and a price varying between Rs 5 to 6 lakh.

"We have started getting orders and will start a manufacturing and assembly unit in Pune next month. We have a target to manufacture 20,000 such cold storage units in the next five years," the IITian said, adding that they are looking to raise around Rs 5 crore from venture capitalists.

Their promising innovation has won the first prize of Rs 10 lakh in the national university competition 'DuPont: The Power of Shunya'.

Besides selling directly to farmers, they are also trying to create village-level entrepreneurs who will act as nodal points for cold storage in mandis where any farmer can store his produce at a fixed cost.

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