Yokogawa Enters Investment and Collaboration Agreement with Ideation3X, a Startup Taking a Circular Economy Approach to Waste Management in India
Yokogawa Electric Corporation announces that it has made a US$10 million Series B investment in Ideation3X Pte. Ltd. (i3X), a Singapore-based venture company that is targeting the rapidly expanding integrated solid waste management (ISWM) sector in India with a process that adopts a circular economy approach. The two companies have also signed a business collaboration agreement. With this investment in the high-growth ISWM field, Yokogawa aims to develop its business in the Indian market. i3X possesses unique know-how in the ISWM field, such as technology for producing high-quality alternative fuels from waste. The company’s ESG management has been highly evaluated and is one of the factors for it being entrusted with waste treatment projects in three Indian cities, including New Delhi.
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Through this investment in i3X, Yokogawa will be able to contribute to the formation of a circular economy based ISWM framework that is appropriate for the Indian market, and make full use of its measurement and control technologies to support the achievement of the Clean India Mission. The Clean India Mission aims to improve the environment in cities throughout the country, and this initiative is attracting a lot of attention due to the potential immense social impact and its importance in countering global warming. While providing technical support for the development of i3X’s business, Yokogawa will also look to expand its engagement in this sector by undertaking the formation of a consortium with related organizations and companies.
More details are in the attached full press release, and may also be viewed at Yokogawa website.
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