Circulate Capital to invest $19 mn in 4 waste management, recycling firms in India


Circulate Capital, a Singapore-based investment management company focused on preventing plastic from leaking into the ocean and advancing the circular economy, has announced that its Circulate Capital Ocean Fund (CCOF) has committed to invest $19 million in four companies that are using technology and innovation to scale and transform India’s waste management and recycling value chain.

These include Srichakra Polyplast, Rapidue Technologies, Deeya Panel Products and Dalmia Polypro Industries.

Including this investment with previously announced investments in Lucro Plastecycle and Nepra Resources Management, CCOF has committed to invest a total of $39 million in India.

“This also forms part of Circulate Capital’s commitment to dedicating half of CCOF’s $106 million of capital to the waste management and recycling industry in India,” the firm said.

Rob Kaplan, CEO and founder, Circulate Capital said, “At a time of tremendous uncertainty, the six companies in our India portfolio are positioned to help the country build back sustainably and transform from a linear to circular economy. Combined, they will directly create over 6,600 safe, stable and dignified jobs while preventing 5 million metric tonnes of plastic pollution from entering the environment by 2030.”

The CCOF’s portfolio includes seven companies in the waste management and recycling industry, with six in India and one in Indonesia.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.

.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *