IEX to pick 10% stake in Enviro Enablers India

Energy exchange IEX on Friday said it will acquire a 10 per cent stake in Enviro Enablers India Private Limited.

The association will fulfil IEX's commitment towards sustainability and decarbonisation in line with India's net zero commitments, Indian Energy Exchange (IEX) said in a BSE filing.

"IEX entered into a share subscription agreement and shareholders' agreement with Enviro Enablers India Private Limited (EEIPL) to acquire a 10 per cent stake in the company through compulsory convertible preference shares (CCPS)," it said.

This platform will catalyse solutions for compliant waste management, including segregation, processing, recycling, tracking, tracing, and valorization of waste fractions, all while uplifting informal waste pickers, SN Goel, Chairman and Managing Director of IEX, said.

"This strategic alliance sets the stage for a transformative journey towards sustainability and circularity within India's energy landscape," Govindaswamy Mahesh Babu of EEIPL said.