Blue Planet Environmental Solutions Secures $35M Funding from IFU to Advance Sustainable Waste Management Initiatives in India
Blue Planet Environmental Solutions, a Singapore-based waste management enterprise, has successfully raised $35 million in a funding round led by impact investor The Investment Fund for Developing Countries (IFU). The investment from IFU is expected to significantly impact Blue Planet’s mission to establish a sustainable and comprehensive waste management platform, with a focus on landfill bio-mining and e-waste recycling in India.
Madhujeet Chimni, Founder and Chairman of Blue Planet, expressed enthusiasm about the investment, stating, “IFU’s investment will drive substantial impact in our pursuit of a sustainable and comprehensive waste management platform. This will fortify our efforts in the two key areas of landfill bio-mining and e-waste recycling in India.” The company aims to reclaim land and resources from garbage dumps, reintroduce materials into the supply chain, and reduce reliance on virgin resources to lower greenhouse gas emissions.
Blue Planet has ambitious plans, including the operation of one of the largest e-waste recycling centers in India. The company’s suite of e-waste solutions incorporates a proprietary method to recover high-value materials from electronic waste components, addressing inefficiencies and toxicity associated with traditional processing methods.
According to the company’s statement, Blue Planet has already reclaimed over 500 acres from landfills and processed more than 12 million tons of legacy waste. Thomas Hougaard, Senior Vice President at IFU, highlighted the pressing need for innovative waste management technologies in India, where only a fraction of the generated waste is currently treated before disposal. With waste volumes expected to double by 2030, investments in sustainable technologies become crucial.
Hougaard remarked, “The waste sector has evolved over the last years, supported by better regulation, and now provides opportunities to deliver on IFU’s impact investor mandate towards both investors and local communities.”
Founded in June 2017, Blue Planet Environmental Solutions is at the forefront of waste management, offering solutions to manage and upcycle waste for a more sustainable future.
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