Singapore-based waste management company Blue Planet Environmental Solutions has acquired Mumbai-based organic waste processing company Yasasu EMS Pvt. Ltd for an undisclosed amount, a company statement said.
The acquisition will help Blue Planet process organic waste using a decentralised containerised technology, the statement added.
Yasasu has developed a small-scale containerised product to treat waste at source. The unit generates biogas and compost. The company’s self-contained and compact digesters can process one to five tonnes of organic waste such as leftover food, vegetable and fruit peels, garden waste and sludge.
“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 and founder of Blue Planet Environmental Solutions, in the statement.
Yasasu currently operates a unit in Mumbai which processes 1 tonne of organic waste per day. According to the statement, the firm has been awarded a contract to install three containerised units to process 10 tonnes of mixed waste per day in Varanasi.
The company was set up in 2017 and offers waste management services such as collection, segregation and treatment of waste. It processes organic and thin-film plastic waste.
Last month, the company raised funding from private equity firm Neev Fund, which is backed by the State Bank of India and the UK’s Department for International Development.
In October, Blue Planet acquired Rudra Environmental Solution (India) Ltd, which operates a thin-film plastic waste recovery facility in Pune.
Deals in the space
A number of firms operating in the waste management segment have raised capital in the past few months.
In a significant deal in the segment, private equity giant KKR agreed to acquire a 60% stake in Hyderabad-based waste management company Ramky Enviro Engineers Ltd for $530 million in August.
In June this year, Nepra Resource Management Pvt. Ltd, a waste management company, raised Rs 44 crore ($6.5 million) in a Series B funding round from existing impact investor Aavishkaar and new impact investor Asha Impact. Nepra operates under the ‘Let’s Recycle’ brand.