Notice Regarding Ideation 3X Pte. Ltd. Receiving Investment from Yokogawa Electric Corporation
Ideation3X Pte. Ltd. (i3X), a Singapore-based venture company has received USD 10 million in Series B investment from Yokogawa Electric Corporation (TOKYO: 6841, ).
Founded in 2017, i3X has been backed by Unison Capital Group (“Unison”). i3X is targeting the rapidly expanding integrated solid waste management (ISWM) sector in India with a process that adopts a circular economy approach. i3X possesses unique know-how in the ISWM field, such as technology for producing high-quality alternative fuels from waste.
In India, the Modi government is promoting the “Clean India Mission” to improve the environment in cities throughout the country. One of its goals is to hygienically treat all the waste in the approximately 3,000 landfills that currently exist across the country by 2030, and at the same time establish a waste disposal model based on circular economy principles. This initiative is attracting a lot of attention due to the immense social impact and its importance in countering global warming.
Taking advantage of this Series B investment from Yokogawa Electric, i3X will further proceed with Series B funding, mainly from Japanese companies, and expand investment to grow the circular economy approach in India. i3X, which is governed by Unison, has been highly appreciated from the perspective of ESG, which has led them to win new projects. The further growth of i3X with the financial and technological strength of Japanese companies will make it possible to contribute to the achievement of the “Clean India Mission”, which will further increase the presence of Japanese companies in the Indian market. The aim of Unison is to establish this virtuous cycle.