South Asian Clean Energy Fund (SACEF), which is co-sponsored by Global Environment Fund and Yes Bank, has invested around $11 million in Concord Enviro Systems Pvt Ltd, a Mumbai-based company engaged in developing, manufacturing and installing waste water treatment and reuse systems.
This is the first investment by Global Environment Fund in the industrial water treatment sector through SACEF.
Founded in 1992, Concord Enviro Systems is one of the leading players in industrial effluent treatment and recycling segment. The company has installed over 500 wastewater reuse plants in the country and overseas. It employs over 600 people and has presence in India, UAE and Latin America.
In 2009, Sage NPE Fund I, through its subsidiary India Waste Water Treatment Co, had invested $9.02 million in Concord Enviro Systems.
o3 Capital advised Concord Enviro on the deal.
SACEF, which is co-sponsored by Global Environment Fund and Yes Bank, is an investor globally in the environment, sustainability and natural resources sectors in South Asia, Latin America, Africa, China and the US.
In India, it has invested over $150 million across several deals in the last decade.
Last year, it invested in ReNew Power Ventures, a renewable energy producer.