Membrane Group India secures USD 50 mn investment commitment from GEF Capital Partners

New Delhi, Oct 8 (PTI) Advanced process water and wastewater treatment solutions provider Membrane Group India Pvt Ltd on Wednesday said it has secured an investment commitment of USD 50 million (over Rs 440 crore) from GEF Capital Partners' South Asia Growth Fund III.

The fund will be used to strengthen the 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, Membrane Group India said in a statement.

Besides, it will also enable the company to enhance project execution capacity, invest in advanced R&D and develop innovative resource recovery solutions, it added.

"With GEF Capital Partners' 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 in India," Membrane Group Chairman M M Narang said.

Stating that "water is one of the defining resource challenges of our time, and India is a critical market for sustainable and technology-driven solutions", GEF Capital Partners Managing Director, Abhishek Loonker, said, "Membrane Group combines the right technology, leadership, and vision to emerge as a global player from India, and we look forward to supporting its capacity scale-up initiatives." PTI RKL SHW