Solar powered ATMs set to go viral

- Advertisement -

As big city dwellers in the developed world look forward to futuristic ATM technologies such as one that will dispense cash after reading your palm (no card required), millions of people in the developed world want an ATM that’s simply convenient and reliable, says a report by msnbc.com.

Enter solar powered ATMs from Vortex Engineering, a company based in Chennai, India, that specialises in providing automated tellers to rural locations where electricity is often spotty and the nearest bank is a day’s travel away.

The machines, which were developed with support from the India Institute of Technology, consume 90 percent less power than conventional ATMs, and thus can be economically operated with solar power, the company notes. Security and functionality, it adds, remain uncompromised.

- Advertisement -

To date, about 450 machines have been installed, primarily in rural locations about 20 to 40 miles from the nearest bank. International expansion is under way and plans call for 10,000 of the ATMs to be installed in the next two years, Yale environment 360 reports.

Vortex’s success appears to be an example of one way that solar technology in the developing world is poised to go viral, as US Energy Secretary Steven Chu predicted in March at the annual summit of the Advanced Projects Research Agency – Energy.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

German Electronics Manufacturer Hama Enters India

0
The company has tied up with various distributors and retailers; initially plans to launch over 300 products in India Germany-based Hama, a leading global manufacturer...

Irani Srivastava Roy: Signify’s New Chief HR Officer for India

0
The lighting company appointed the 23-years-of-experience holder for aligning the organization's people strategy with business objectives I look forward to further strengthening the...

MoS Inaugurates Digital India Startup Hub at STPI-Davanagere

0
The start-up hub was inaugurated at the 'Software Technology Park of India', which is the 63rd STPI centre in India and the fifth in...

Exclusive

German Electronics Manufacturer Hama Enters India

0
The company has tied up with various distributors and retailers; initially plans to launch over 300 products in India Germany-based Hama, a leading global manufacturer...

Irani Srivastava Roy: Signify’s New Chief HR Officer for India

0
The lighting company appointed the 23-years-of-experience holder for aligning the organization's people strategy with business objectives I look forward to further strengthening the...

Fujitsu Joins SettleMint to Utilize Blockchain Tech

0
The global strategic agreement aims to accelerate enterprise blockchain technology and promote its use cases Japanese ICT company Fujitsu and blockchain platform SettleMint recently announced...

Important Sectors

German Electronics Manufacturer Hama Enters India

0
The company has tied up with various distributors and retailers; initially plans to launch over 300 products in India Germany-based Hama, a leading global manufacturer...

Irani Srivastava Roy: Signify’s New Chief HR Officer for India

0
The lighting company appointed the 23-years-of-experience holder for aligning the organization's people strategy with business objectives I look forward to further strengthening the...

EVs Set to Drive Telematics Demand: Report

0
Telematics shipments in India to reach 50 mn units in 2030 The report expects that the rising Electric Vehicle (EV) demand, enhanced 4G...

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

India Assumes Chair of Global Partnership on AI

0
MoS Rajeev Chandrasekhar represented India at the Global Partnership on Artificial Intelligence (GPAI) Summit He believes National Data Governance Framework Policy with Indian...

Manufacturing

First Private Company in India Builds its Own Mission Control Centre

0
Agnikul Cosmos is set to operate from this new facility at Sriharikota which was inaugurated by Shri S. Somanath,  Chairman, ISRO. India’s first launchpad and...

New Product Distribution Center by TI in Germany

0
The centre in Frankfurt enables same-day delivery to central Germany next-day delivery capabilities to most European-based customers.  Texas Instruments, a global semiconductor company whose presence...

Redwood to Supply High-Nickel Cathode to Panasonic

0
Despite the increasing demand, there is no cathode production at scale in North America today: Battery material maker Redwood As per the latest reports, Panasonic...
Infineon, CoolSiC

Infineon Planning New Factory in Dresden

0
The semiconductor major has enhanced its long-term financial targets after witnessing a remarkable FY22 Germany-based Infineon Technologies recently released its results for the fourth quarter...

Uno Minda To Invest Rs 400 Cr In New Light Plant

0
The plant is intended to be commissioned by Q4 FY24 The group registered its highest-ever quarterly performance recently As per the latest reports, the...