Mahindra Waste To Energy Solutions Ltd (MWTESL) specializes in converting municipal wet waste into bio-CNG through bio-methanation, complementing Blue Planet’s carbon capture and utilization technologies expertise.
Singapore-based Blue Planet Environmental Solutions, a leader in sustainable waste management, has announced a significant expansion of its operations through the acquisition of a majority stake in Mahindra Waste To Energy Solutions Ltd (MWTESL), part of the prestigious Mahindra Group in India. MWTESL is at the forefront of converting municipal wet waste into bio-CNG via bio-methanation, a process that perfectly complements Blue Planet’s prowess in carbon capture and utilization technologies. This strategic partnership is poised to enhance the development of comprehensive waste-to-energy solutions, propelling both companies further into the circular economy.
RELEVANT SUSTAINABLE GOALS
Prashant Singh, Co-founder & CEO of Blue Planet, heralded the acquisition as a milestone that “unlocks new markets and opportunities.” He emphasized the partnership’s potential to broaden their reach, stating, “Together, we will penetrate new regions and deliver integrated waste management and renewable energy solutions.” This collaboration is seen as a significant boost to Blue Planet’s capabilities and its impact across the region.
With its headquarters in Singapore, Blue Planet is renowned for driving sustainability through its innovative end-to-end waste management platform. By applying advanced technologies at various stages of the waste lifecycle, Blue Planet aims to close the loop, promoting a more circular economy that benefits both the environment and society.
In an official statement, Blue Planet underscored the partnership’s role in fostering innovation within the waste-to-energy sector. The collaboration will leverage the unique technologies, research capabilities, and intellectual property of both companies, setting a new standard in the industry for environmental stewardship and renewable energy solutions.
Blue Planet’s Strategic Investments
Founded in 2017, Blue Planet is at the forefront of revolutionizing waste management and upcycling through technology-driven and IP-based solutions. In a significant boost to its mission, Blue Planet secured a $35-million term loan facility in December from the Investment Fund for Developing Countries (IFU), an independent entity owned by the Danish government. This strategic investment underscores international confidence in Blue Planet’s impactful work, particularly in India, where the focus is on landfill reclamation and e-waste recycling.
The Singapore-based company has committed the remaining $22 million of this investment to Zigma Global Environ Solutions, an Indian enterprise it first supported in 2020, further cementing its commitment to transforming waste management practices. Blue Planet’s acquisition spree includes Qube Renewables and Wah & Hua, alongside the disaster management firm Disaster Restoration Singapore, all in 2021, showcasing its ambition to lead and innovate in the environmental sector.
Climate-tech investments in India soared to $1.2 billion between 2016 and 2020, predominantly targeting renewable energy and electric mobility sectors. Yet, to meet India’s ambitious net-zero emissions target by 2070, annual climate investments need to dramatically increase from $18 billion to $170 billion, as highlighted by the International Finance Corporation. Amidst this financial landscape, India is experiencing a surge in venture capital interest in the climate-tech arena, with key players like Avian Capital, Blue Ashva Capital, Speciale Invest, Climate Seeds Fund, Transition VC, and Climate Angels leading the charge in fostering a sustainable future.
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