The investment is through Nomura’s Loans and Principal Investments Area in Asia (ex-Japan), per the statement.
The proceeds will help Blue Planet further develop its technology-driven waste management solutions.
The company, which has offices in India, Vietnam, Malaysia and the UK, received an investment from Neev Fund, jointly set up by the State Bank of India and the UK Government’s Department for International Development, in 2018.
One of Blue Planet’s key offerings includes the conversion of organic waste into energy and high-value compost using an anaerobic digestion technology. Other solutions include conversion of single-use plastics to fuel oil, recycled geopolymer concrete blocks made from inert waste and precious metal recovery from electronic waste using a non-hazardous chemical process.
According to the firm, Asia is predicted to account for half of the world’s middle-class consumption by the end of 2030, while solid waste, in particular plastic and organic waste, is becoming a key challenge for the rapidly developing nations in the region.
“Together, we aim to deliver our vision of ‘zero waste to landfill’, which is a long-term ambition to eliminate waste from business activities, downstream consumption and waste handling processes,” said Madhujeet Chimni, co-founder of Blue Planet.
“For us, this means developing capabilities to process all the waste produced through reusing, upcycling, recycling or energy recovery.”
In addition, Blue Planet also aims to help organisations and governments in Asian countries in improving their key Sustainable Development Goals, through measuring the success of waste management projects and technologies by combining positive financial output with environmental protection and social inclusion.
“Environmental, Social and Governance (ESG) opportunities have been a key focus area for Nomura,” commented Aadit Seshasayee, head of the Loans and Principal Investments Area, Asia ex-Japan at Nomura.
The Singapore-headquartered company has also made a string of acquisitions including Rudra Environmental Solutions, Yasasu Environmental Management Services and Xeon Waste Managers in India, Globecycle Holding Sdn Bhd in Malaysia, and Virtus Concrete Solutions and Smart Creative Technologies in the UK.