New Delhi, Oct. 8 -- Membrane Group India Pvt. Ltd, a Gurugram-based provider of industrial water and wastewater treatment systems, has secured a $50 million (around Rs 444 crore) investment commitment from GEF Capital Partners' South Asia Growth Fund III.

The funding will be used to expand the company's capabilities in delivering ultrapure water (UPW), wastewater treatment, water reclamation, and zero liquid discharge (ZLD) solutions for high-growth sectors such as solar photovoltaics, semiconductors, microelectronics, and advanced manufacturing.

Membrane Group also plans to use the capital to scale up project execution, invest in research and development, and develop innovative resource recovery technologies.

"With GEF Capital Partners' support, we can enhance our scale, accelerate investment in innovation, and push forward our goal of becoming a technology-driven, climate-responsible water solutions company," said M M Narang, chairman of Membrane Group.

Abhishek Loonker, managing director at GEF Capital Partners, said the firm sees India as a critical market for sustainable water solutions. "Membrane Group combines technology, leadership, and vision to emerge as a global player from India."

Founded over three decades ago, Membrane Group claims that it has executed more than 2,500 projects in India and abroad. The company serves sectors that require critical water management solutions, including renewable energy, semiconductors, and advanced manufacturing.

GEF Capital Partners, a global private equity firm with operations in India, the US, and Brazil, invests in companies addressing climate change and sustainability challenges. Its portfolio in India includes companies such as Sahyadri Farms, Sterlite Power Transmission, and TI Clean Mobility.

The private equity firm was spun out of US-based Global Environment Fund five years ago and is currently raising a new India-focused clean energy fund with a larger mandate. It is led by founding and managing partner Raj Pai and is currently deploying its third India fund. Previously, the firm marked the final close of its second fund at $200 million in March 2021.

Published by HT Digital Content Services with permission from VC Circle.