Membrane Group, a provider of advanced water and wastewater treatment solutions, has raised $50 million from private equity major GEF Capital Partners’ South Asia Growth Fund III, per an announcement.
The fresh capital will be used to strengthen the company’s capabilities in ultrapure water (UPW), wastewater treatment, water reclamation, and zero liquid discharge (ZLD) systems. These solutions cater to high-growth sectors such as solar photovoltaics, semiconductors, microelectronics, and advanced manufacturing.
Membrane Group said the investment will help it enhance project execution capacity, step up investment in advanced R&D, and develop innovative resource recovery solutions.
The funding marks a major milestone in the company’s mission to position itself as a global, technology-driven process water and wastewater treatment player from India.
“With GEF Capital Partners’ support, we are in a better position to further enhance our scale, accelerate investment in innovation,” said M M Narang, Chairman, Membrane Group, in a statement.
Meanwhile, Abhishek Loonker, Managing Director, GEF Capital Partners, added: “Water is one of the defining resource challenges of our time, and India is a critical market for sustainable and technology-driven solutions.”
Membrane Group, headquartered in Gurugram, has over three decades of experience. It claims to have executed more than 2,500 projects across India and internationally.
GEF Capital Partners focuses on investments in companies that seek to mitigate the adverse effects of climate change. The firm has operations in India, the United States, and Brazil.
Some of its recent investments in India include Sahyadri Farms, Sterlite Power Transmission Limited, and TI Clean Mobility Private Limited, among others.
