Indian Energy Exchange to acquire 10% in Enviro Enablers India Pvt Ltd (EEIPL)
Under this agreement, IEX will acquire a 10 per cent stake in EEIPL through Compulsory Convertible Preference Shares (CCPS). This strategic move aligns with IEX’s commitment to sustainability and decarbonisation, in accordance with India’s net-zero commitments and to promote a circular economy, the company stated in a press release.
What does Enviro Enablers India Pvt Ltd (EEIPL) do?
EEIPL incorporated incorporated on 21st October 2021 is engaged in the business of waste management by collection, segregation, processing and transportation of dry waste, plastic waste, and all categories of waste including but not limited to organic waste, expired FMCG waste, electronic waste, construction and demolition waste, hazardous waste, agro waste, tyre waste, solar PV module waste and end of life vehicles waste, and proposes to develop and operate a digital Material Waste Platform which would connect industry participants in the waste management process.
Comments from IEX Management: Mr. SN Goel, Chairman and Managing Director of IEX
IEX is proud to associate with Enviro Enablers and to partner in this circular economy platform. This partnership reaffirms our steadfast commitment to sustainability and decarbonisation, aligning seamlessly with India’s net-zero goals. The platform will catalyse solutions for compliant waste management, including segregation, processing, recycling, tracking, tracing, and valorisation of waste fractions, all while uplifting informal waste pickers."
Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/dd7394c8-d3ba-43cd-8dc8-d02d4d351c63.pdf
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