Membrane Group gets $50M pledge from GEF Capital for wastewater treatment solutions
Membrane Group will use the funding to expand its capabilities in Ultrapure Water (UPW), wastewater treatment, water reclamation, and Zero Liquid Discharge systems.
Membrane Group India, a provider of processed water and wastewater treatment solutions, has secured an investment commitment of $50 million from GEF Capital Partners’ South Asia Growth Fund III.
GEF Capital Partners is a global private equity fund manager focused on companies working to mitigate the adverse effects of climate change. Some of its recent investments in India include Sahyadri Farms, Sterlite Power Transmission, and TI Clean Mobility, among others.
The company will use the funding to expand its capabilities in Ultrapure Water (UPW), wastewater treatment, water reclamation, and Zero Liquid Discharge (ZLD) systems for industries including solar photovoltaics, semiconductors, microelectronics, and advanced manufacturing.
The investment will support enhancements in project execution, R&D initiatives, and the development of resource recovery solutions, Membrane Group India said in a statement. The company also aims to strengthen its ability to deliver large-scale projects in India and abroad.
M M Narang, Chairman of Membrane Group, said in a statement, "This signifies the trust we have built with our customers, partners, and employees. With GEF Capital Partners' support, we are in a better position to further enhance our scale, accelerate investment in innovation, and drive our mission to build a global, technology-driven and climate-responsible process water and wastewater treatment company in India."
“We are delighted to partner with Membrane Group at a crucial phase in its growth journey. Water is one of the defining resource challenges of our time, and India is a critical market for sustainable and technology-driven solutions. Membrane Group combines the right technology, leadership, and vision to emerge as a global player from India, and we look forward to supporting its capacity scale-up initiatives," added Abhishek Loonker, Managing Director at GEF Capital Partners.
Edited by Kanishk Singh