Yokogawa Enters into Collaboration Agreement with Ideation3X
Yokogawa signs an asset and collaborative effort agreement with Ideation3X, an Indian startup that uses a circular economy strategy to waste management.
Yokogawa Electric Corporation (TOKYO: 6841) announces a US$10 million Series B investment* in Ideation3X Pte. Ltd. (i3X), a Singapore-based venture firm targeting India’s expanding rapidly integrated waste management (ISWM) sector with a circular economy approach. A business collaboration agreement has also been signed by the two companies. Yokogawa intends to expand its business in the Indian market with this investment in the high-growth ISWM field.
Unison Capital Group, a Japanese private equity firm, has supported i3X since its inception in 2017. i3X has unique expertise in the field of ISWM, such as technology for producing high-quality alternative fuels from waste. Furthermore, with Unison Capital’s help, the company’s ESG management has been highly rated, which is one of the reasons it has been entrusted with waste treatment projects in three Indian cities, including New Delhi.
In addition, the company has extensive experience in providing control systems for waste-to-energy plants all over the world. With this investment in i3X, Yokogawa will be able to contribute to the development of a circular economy-based ISWM framework appropriate for the Indian market, as well as fully utilise its measurement and control technologies to support the Clean India Mission.
While providing technical assistance for the growth of i3X’s business, Yokogawa will also seek to expand its involvement in this sector by forming a consortium with related organisations and companies. “Yokogawa has been investing strategically to develop business opportunities in the growing Indian market,” said Tsuyoshi Abe, a Yokogawa senior vice president and head of the Marketing Headquarters. This investment allows us to combine Ideation3X’s expertise, the ecosystem that will develop around its business, and Yokogawa’s technology and experience. I am confident that we will be able to grow our business while also addressing one of India’s most pressing social issues. According to the United Nations and other sources, the global population is growing at a rate of 140 percent per year.