Climate Insider Brief:
- Singapore-based waste management company, Blue Planet Environmental Solutions, has successfully raised $35 million in a funding round led by The Investment Fund for Developing Countries (IFU).
- Blue Planet plans to use the investment to advance its sustainable waste management platform, with a specific focus on landfill bio-mining and e-waste recycling in India.
- The company intends to operate one of India’s largest e-waste recycling centres, employing a proprietary method to recover high-value materials from electronic waste components.
PRESS RELEASE – December 19, 2023 – Singapore-based waste management company, Blue Planet Environmental Solutions, has successfully raised $35 million in a funding round led by The Investment Fund for Developing Countries (IFU). Blue Planet aims to use this investment to advance its sustainable waste management platform, focusing on landfill bio-mining and e-waste recycling in India.
The company’s mission involves reclaiming land and resources from garbage dumps, reintroducing materials into the supply chain, and reducing reliance on virgin resources to decrease greenhouse gas emissions. Blue Planet also plans to operate one of India’s largest e-waste recycling centres, employing a proprietary method to recover high-value materials from electronic waste components.
Blue Planet Environmental Solutions, founded in June 2017, has already reclaimed over 500 acres from landfills and processed more than 12 million tons of legacy waste. According to Thomas Hougaard, Senior Vice President at IFU, India generates approximately 62 million tonnes of waste annually, with only 12 million tonnes being treated before disposal. With waste volumes expected to more than double by 2030, investments in innovative technologies and operations are crucial to address the growing challenge.
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SOURCE: StartupStory
Featured Image: Credit: StartupStory
