Blue Planet secures $35mn investment from IFU

21 Dec 2023 CW Team

The injection of funds from IFU will significantly enhance Blue Planet's capabilities in two crucial areas within India ? landfill reclamation and e-waste recycling. Blue Planet has already achieved notable success in reclaiming over 500 acres from legacy landfills and processing more than 12 million tonnes of legacy waste. This accomplishment has effectively reduced the need for new materials and contributed to a reduction in carbon footprint.

The strategic partnership between Blue Planet and IFU marks a significant milestone in the pursuit of global sustainability, underscoring their joint commitment to pioneering innovative waste management solutions, according to a company statement.

Jonas Lau Kristensen, Investment Director at IFU, emphasised, "Our commitment extends beyond financial investment; it's about creating a just, inclusive, and sustainable future and transforming the landscape of waste management."

IFU's investments play a pivotal role in promoting environmental sustainability and fostering economic growth in the countries they invest in, aligning closely with the United Nations Sustainable Development Goals.

Currently, India generates approximately 62 million tonnes (MT) of waste annually, with only 12 MT being treated before disposal. Thomas Hougaard, Senior Vice President at IFU, highlighted the need for investments in innovative technologies and operations to address the anticipated doubling of waste volumes by 2030.

IFU will be investing on behalf of the SDG Fund, partially funded by public funding, which provides catalytic risk mitigations to mobilise private capital. This allows Danish Pension Funds to engage in sustainable investments in developing countries.

Blue Planet has ambitious plans to operate one of the largest e-waste recycling centers in India. Madhujeet Chimni, Founder and Chairman of Blue Planet, expressed confidence that IFU's investment would have a significant impact on their quest for a sustainable waste management platform. Prashant Singh, Co-Founder and CEO of Blue Planet, added that IFU's experience and depth of knowledge would be invaluable as they tackle new challenges in providing sustainable waste management solutions.

Blue Planet Environmental Solutions, a company dedicated to sustainable waste management operations in India, South-East Asia, and the UK, announced that it has secured a $35 million investment from The Investment Fund for Developing Countries (IFU), a leading player in impact investments. The injection of funds from IFU will significantly enhance Blue Planet's capabilities in two crucial areas within India ? landfill reclamation and e-waste recycling. Blue Planet has already achieved notable success in reclaiming over 500 acres from legacy landfills and processing more than 12 million tonnes of legacy waste. This accomplishment has effectively reduced the need for new materials and contributed to a reduction in carbon footprint. The strategic partnership between Blue Planet and IFU marks a significant milestone in the pursuit of global sustainability, underscoring their joint commitment to pioneering innovative waste management solutions, according to a company statement. Jonas Lau Kristensen, Investment Director at IFU, emphasised, Our commitment extends beyond financial investment; it's about creating a just, inclusive, and sustainable future and transforming the landscape of waste management. IFU's investments play a pivotal role in promoting environmental sustainability and fostering economic growth in the countries they invest in, aligning closely with the United Nations Sustainable Development Goals. Currently, India generates approximately 62 million tonnes (MT) of waste annually, with only 12 MT being treated before disposal. Thomas Hougaard, Senior Vice President at IFU, highlighted the need for investments in innovative technologies and operations to address the anticipated doubling of waste volumes by 2030. IFU will be investing on behalf of the SDG Fund, partially funded by public funding, which provides catalytic risk mitigations to mobilise private capital. This allows Danish Pension Funds to engage in sustainable investments in developing countries. Blue Planet has ambitious plans to operate one of the largest e-waste recycling centers in India. Madhujeet Chimni, Founder and Chairman of Blue Planet, expressed confidence that IFU's investment would have a significant impact on their quest for a sustainable waste management platform. Prashant Singh, Co-Founder and CEO of Blue Planet, added that IFU's experience and depth of knowledge would be invaluable as they tackle new challenges in providing sustainable waste management solutions.