Bangalore, 19 May 2021: Three Wheels United, a Bengaluru-based tech-enabled financier of light electric vehicles, is included in the 2021 APAC 25 list produced by Cleantech Group, a global leader in research, consulting, and events that catalyze opportunities in sustainable innovation.
The APAC 25 is a list of private and independent companies in the Asia Pacific region dedicated to sustainability and evaluated by experts in the field as likely to make a significant impact in a five-to-ten-year time frame.
Cleantech Group put together the fourth annual list of 25 companies by combining detailed contributions from an APAC 25 expert panel with the APAC-related inputs from its annual Global Cleantech 100 process. The companies with the strongest patterns of agreement across all the input points were given the highest scores. Companies can only be on the APAC 25 list once.
Commenting on this, Cedrick Tandong, CEO and Co-Founder, Three Wheels United said “ We are thrilled to be a part of APAC 25 and to be recognized for our role in creating a sustainable last-mile transport to reduce the climate impact of the transportation sector. This validation further strengthens our commitment towards reducing air pollution and positively impacting the lives of drivers”
Members of the APAC 25 expert panel play an important role in creating the list. Each provides between three and nine nominations, no more than a third of which can be portfolio companies (in the case of investors). Expert panelists can weigh their nominations, and all nominations are blind (no expert sees the other panelists’ nominations). These nominations are then combined with the outcomes from the Global Cleantech 100 process, which benefits from thousands of data points, to determine those with the most multiple validation points.
The 2021 APAC 25 list is made possible by the continuing support of ADB Ventures and Enterprise Singapore.
“The Asia Pacific region is by far the largest emitter of CO2 today, given it is the motor of most of the heaviest industries of the world,” said Richard Youngman, CEO of Cleantech Group. “We all have a stake in solving that challenge and our 2021 APAC 25 companies provide a sampling of the range of emerging solutions required – from agtech to the future of mobility, from plastics to natural resources, from energy efficiency to clean energy abundance.”
Cleantech® Group provides research, consulting, and events to catalyze opportunities for sustainable growth powered by innovation. At every stage from initial strategy to final deals, we bring corporate change-makers, investors, governments, and stakeholders from across the ecosystem the access and customized support they need to thrive in a more digitized, de-carbonized, and resource-efficient future.
Three Wheels United is a Bangalore-based social enterprise that offers holistic financing solutions for auto drivers to own a light electric vehicle, such as an electric auto rickshaw. Three Wheels United (TWU) was founded with an aim to reduce air pollution and generate more income for auto-rickshaw drivers by helping them switch to electric auto-rickshaws. Founded by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra in 2017, Three Wheels United provides loans for drivers to make a switch from conventional rickshaws to electric rickshaws.
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