BlueEarth invests in India’s Nepra Resource Management

04 March 2024 18:15

GBICirc. Economy Switzerland

Baar/Mumbai - India-based impact investor Aavishkaar Capital has sold a significant minority share of Gujarat-based dry waste management company Nepra Resource Management to BlueEarth Capital, a Swiss investment fund that addresses pressing social and environmental challenges.

Baar, Switzerland’s BlueEarth Capital and Mumbai, India-based impact investor Aavishkaar Capital are backing Nepra Resource Management, a leading dry waste management company that is a lead actor in India’s circular economy.

According to a press release issued on February 22, BlueEarth acquired a “significant minority” share in Nepra from Aavishkaar India II Company Limited, or AICL II. BlueEarth’s purchase provides a total exit for AICL II, but Aavishkaar will continue to own Nepra in its Aavishkaar Bharat Fund.

“BlueEarth has invested in Nepra through a structure that enables Aavishkaar to continue, and build on, its long-standing relationship with Nepra,” said the release.

Based in Gujarat, Nepra operates material recovery and value-added facilities that recycle and reuse materials in four Indian states. Its largest facility in Indore has helped the city become one of the cleanest in India. In total, Nepra has mitigated 460,000 tons of carbon emissions. The company employs more than 1,900 waste pickers.

“Nepra has been a pioneer in India’s dry waste management ecosystem and has built very strong digital transformation tools and state-of-the-art infrastructure to enable Inclusive circular economy and ‘zero waste to landfill’ models,” said Nepra Chief Executive Officer Sandeep Patel.

BlueEarth executives believe Nepra’s value as a company will increase as India’s economy grows and Indians’ waste increases. In 1970, Indians disposed of 1.2 billion tons of solid waste. By 2030, the country is expected to dispose of 14 billion tons.

“Responsible waste management is not only vital for environmental stewardship but also presents a significant opportunity for economic growth and societal benefit,” said BlueEarth Director of Private Equity Partnerships Rohan Ghose. ce/jd

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