Singapore-based Blue Planet Environmental Solutions has acquired Yasasu EMS, an organic waste processing company based in Mumbai. Yasasu manufacturers self-contained and compact digesters which the company claims can process one to five tonnes of organic waste such as leftover food, vegetable and fruit peels, garden waste and sludge.
The acquisition, which was announced on Tuesday, was the second by Blue Planet in India in less than six months. In October, it had acquired Pune-based Rudra Environmental Solution (India) Ltd, for an undisclosed amount. Rudra helps divert plastic waste from landfills and produce valuable outputs at no cost to the environment.
Blue Planet Environmental Solutions is backed by Neev Fund in which State Bank of India (SBI) is an investor.
“Yasasu’s distributed waste-to-energy solution would dramatically reduce disposal to landfill and generate clean, reliable energy from a renewable fuel source,” said Prashant Singh, Chief Executive Officer, Blue Planet, in a statement. “Yasasu’s unique offerings are highly scalable and will meaningfully contribute to Blue Planet ’s rapid growth plans” he added.
Yasasu EMS was incorporated in 2016 and has been incubated by Organic Recycling Systems to cater to the burgeoning needs of the Urban Civic Local Bodies for effective processing and disposal of municipal solid waste generated in the cities throughout the country.
India’s urban waste management solutions has attracted the interest of global investors such as private equity fund KKR which in August announced a 60% stake buy in environmental solution provider Ramky Enviro Engineers Ltd (REEL) for $530 million. This was the largest buyout by a private equity firm in India’s environmental services sector. The acquisition will be done through a combination of primary and secondary investments from KKR’s Asian Fund III.
Hyderabad-based REEL’s offerings of environment management services include collection, transport and processing of hazardous, municipal, biomedical and e-waste, as well as recycling of paper, plastic and chemicals.
This article was first published on livemint.com