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Blue Planet is a leader in landfill bio-mining which is the reclamation of legacy landfills and re-purposing the recovered material into useful resources. | Photo Credit: Rick Wilking
Blue Planet Environmental Solutions Pte. Ltd, a sustainable waste management company with operations in India, South-East Asia and UK, has received $35 million investment from The Investment Fund for Developing Countries (IFU).
The funds from IFU will further boost Blue Planet’s capabilities in two key areas in India – landfill reclamation and e-waste recycling. Blue Planet is a leader in landfill bio-mining which is the reclamation of legacy landfills and re-purposing the recovered material into useful resources.
It has reclaimed over 500 acres from legacy landfills and processed more than 12 million tons of legacy waste, displacing the need for new materials and thus reducing carbon footprint, said the company.
Madhujeet Chimni, Founder and Chairman, Blue Planet, said, “We’re thrilled to have IFU as a partner in this transformative journey. IFU’s investment will drive substantial impact in our pursuit of a sustainable and comprehensive waste management platform. This will fortify our efforts in the two key areas of landfill bio-mining and e-waste recycling in India. These initiatives will not only reclaim land and resources but also bring resources back into the Supply Chain and reduce dependence on use of virgin resources.”
Blue Planet also plans to operate one of the largest e-waste recycling centers in India. Its suite of e-waste solutions includes a proprietary method to recover high-value materials from electronic waste components, which are traditionally lost due to inefficient, inherently toxic, and outdated processing methods.
Headquartered in Copenhagen, Denmark, IFU will be investing on behalf of the SDG Fund, which is partly funded by public funding, providing catalytic risk mitigations to mobilize private capital. This gives access to Danish Pension Funds to invest in sustainable investments in developing countries.
“This partnership underscores our shared vision for a sustainable and ESG-aware platform, addressing one of the most pressing challenges of our time. Our commitment extends beyond financial investment; it’s about creating a just, inclusive, and sustainable future and transforming the landscape of waste management,” said Jonas Lau Kristensen, Investment Director at IFU.
Published on December 18, 2023
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