EKI Energy Services has successfully registered its plastic waste reduction project in Bangladesh, Phase I, with Verra. According to reports from Business Standard, this marks the first registered plastic waste reduction project in Bangladesh, representing a significant milestone for the country's waste management sector. The project demonstrates EKI's strategic expansion into a major South Asian market and commitment to implementing structured approaches to plastic waste recovery.
Through the registered project, EKI aims to implement structured approaches to plastic waste recovery, contributing to the development of more circular material flows. As reported by Business Standard, the project will generate Plastic Credits that help increase the collection of waste and the availability of recycled plastic feedstock. These credits are designed to prevent valuable materials from entering landfills or leaking into the environment, supporting sustainable waste management practices.
The project will operate under Verra's rigorous monitoring, verification and certification processes, ensuring adherence to international standards for waste management projects. According to Business Standard, this certification framework provides credibility and transparency for the initiative's environmental and social impact. The verification process ensures that the project meets strict criteria for waste collection, recycling, and environmental protection.
Despite the registration milestone, EKI reported a consolidated net loss of ₹15.93 crore in Q1 FY27, significantly wider than the ₹1.30 crore loss in the same period last year. As per The Economic Times, consolidated revenue from operations fell 30% year-on-year to ₹10.46 crore from ₹14.94 crore in Q1 FY26. On a standalone basis, the company registered a net loss of ₹15.31 crore on operations revenue of ₹8.88 crore. The financial stress reflects broader challenges in the voluntary carbon market, with material estimates in inventory valuation remaining a focal point of risk for investors.
This registration represents EKI's strategic expansion into a major South Asian market and demonstrates the company's commitment to sustainable waste management solutions. The initiative positions EKI to contribute meaningfully to Bangladesh's waste management infrastructure while supporting the development of circular economy practices in the region. However, as reported by The Economic Times, the commercial viability of international plastic credits remains highly dependent on voluntary demand, with the overall market remaining highly illiquid despite EKI's pioneering role in the sector.
