Based on press release issued by Singapore-headquartered Blue Planet Environmental Solutions Pte Ltd (Blue Planet), announced today an investment of US$10 million from Sysma Holdings Limited, a Singapore-listed investment holdings company looking to tap into growing opportunities in the circular economy.
Through this strategic partnership, Blue Planet will accelerate its efforts to deploy integrated, inclusive and sustainable waste management solutions around the region.
This investment in Blue Planet marks the entry of Sysma Holdings into the sustainability sector. The partnership aligns with the company’s vision to integrate sustainability into its operations, build resilience into its business, and capitalise on the growing opportunities in the region.
Since its founding in 2017, Blue Planet has strategically acquired various technologies in each step of the waste management process — including collection and transportation, segregation and processing — to achieve high resource recovery and circularity along the waste management cycle.
Madhujeet Chimni, founder and chairman, Blue Planet, commented: “With this recent round of investment from Sysma Holdings, we will increase our efforts to add new technological solutions and partners to our portfolio, and continue to scale sustainable waste solutions across Asia.”
Sin Ee Wuen, Deputy CEO, Sysma Holdings Limited, said: “We look forward to this partnership with Blue Planet to accelerate and support the development of sustainable solutions for responsible waste management in Asia, especially in Singapore. This investment marks a step forward towards integrating Environmental, Social and Governance (ESG) considerations into our business strategy.”
Towards a Circular Economy
Asia is the largest waste generating continent in the world, accounting for 23 per cent of total waste produced globally. The mismanagement of the waste generated, due to the absence of formal infrastructure, is prevalent in Asia and results in a myriad of environmental and social problems. The key challenges for successful waste management in Asia include the integration of the fragmented waste sector and the financing of waste management systems in rapidly urbanising areas.
To address this regional need, Blue Planet is creating an accessible and unique platform of technologies that can upcycle or recycle various streams of waste. This suite of technologies enables our customers to extract financial value from waste processing by recovering valuable resources, mitigating carbon emissions, and creating meaningful employment in local communities.
Currently, Blue Planet has more than fifty decentralized organic waste management units and five plastic waste processing units of various sizes across South Asia. Other services and technologies provided by the company include non-hazardous e-waste recovery, large-scale landfill remediation and green building waste solutions.
The investment by Sysma Holdings is the latest milestone for Blue Planet, which in the past two years has announced a string of partnerships and acquisitions, including Zigma Global Environ Solutions Pvt Ltd (India), Virtus Concrete Solutions Ltd (UK), Rudra Environmental Solutions (India), Yasasu Environmental Management Services (India), Xeon Waste Managers LLP (India), Globecycle Holding Sdn Bhd (Malaysia), and Smart Creative Technologies Ltd (UK).
These acquisitions help further the ambitions of Blue Planet’s key investors, including the Neev Fund, to achieve long-standing capital appreciation by promoting sustainable models of development. The State Bank of India (SBI) and the UK Government’s Foreign, Commonwealth & Development Office (FCDO) created the Neev Fund as an infrastructure-focused private equity fund with a focus on renewable energy, healthcare, education and urban solutions.
Prashant Singh, Founder and Chief Executive Officer of Blue Planet, added: “We are delighted to have Sysma Holdings on board with us as we continue to grow our business in Asia. We aim to become the first and largest provider of integrated sustainable waste solutions in the region, and our partnership with Sysma Holdings will help us get a step closer to our vision.”
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Swati Mandloi
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SOURCE Blue Planet Environmental Solutions
