MUMBAI: Membrane Group, which is into advanced water and wastewater treatment solutions, has secured an investment commitment of $50 million from GEF Capital Partners.
The money will be invested through SEF’s arm South Asia Growth Fund III and will be used to further strengthen its capabilities, the Gurugram-based company said in a statement Wednesday.
GEF Capital Partners is a private equity fund focused on making investments in companies that seek to mitigate the adverse effects of climate change and has operations in India, the US and Brazil.
Some of its recent investments include Sahyadri Farms, Sterlite Power Transmission, TI Clean Mobility, etc.
The fund will be used to strengthen Membrane’s capability to deliver ultrapure water (UPW), wastewater treatment, water reclamation, and zero liquid discharge (ZLD) systems for high-growth industries such as solar photovoltaics, semiconductors, microelectronics, and advanced manufacturing, the statement added.
The money will also enable Membrane to enhance project execution capacities, invest in R&D and develop innovative resource recovery solutions.
The investment from GEF Capital marks a major milestone in Membrane’s mission to emerge as a global, technology-driven process water and wastewater treatment company through execution of large-scale, multi-GW projects.
Commenting on the fundraise, MM Narang, chairman of Membrane Group said, with GEF Capital’s 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.
Membrane has executed over 2,500 projects so far, establishing a strong track record of excellence and reliability. The group partners with high-growth sectors such as renewable energy, semiconductors, and advanced manufacturing, supporting their critical water requirements and enabling industries to achieve their sustainability and ESG goals.