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What’s Happening?

Fresh From The Sea-H Subramaniam in The Hindu

Chennai, February 16, 2013

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Demand to remove import tariffs on water recycling equipment

Navbharat, Mumbai - Dec 28

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EWG to form JV with Norwegian co for desalination plants

Financial express, Chennai - Nov 29

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Water Engineering-A New Chapter in Water Conservation

Maharashtra Times, Pune - Nov 4

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EWG to form JV with Norwegian co for desalination plants

Hindu Business Line, New Delhi, Nov 25

Water treatment solutions provider Earth Water Group is in advanced stages to form a joint venture with Norwegian firm Aqualing to set up desalination plants in Indian coastal areas entailing investment of about Rs 750 crore over the next three years.

The JV will be between Fontus, an Earth Water Group firm, and Aqualing with the Indian firm slated to hold a minority stake while the foreign partner will have majority stakeholding... View details

Earth Water Group announces its maiden fund raising of US$ 15 million from Asia’s leading CLSA Capital Partners

The funds will be used to invest in better technologies, strengthen existing core initiatives, and acquiring new businesses.

New Delhi: Delhi based Earth Water Group, one of the market leaders in the water and wastewater management industry has today announced its maiden fund raising of US$ 15 million from the Singapore based CLSA Capital Partners, an alternative asset-management arm of CLSA Asia-Pacific Markets, Asia’s leading independent brokerage and investment group.

Increasing scarcity of water along with the increased demand of water from domestic, commercial and industrial customers has created a sizeable business opportunity. While the situation poses a serious concern, it also opens up an array of opportunities for players across the entire spectrum of value chain in the water sector. K.K Nohria, Chairman of the Earth Water Group says “India, which has always been rich in its water resources, has been facing serious water shortages lately. The situation has risen largely from increased water demands and deteriorating water quality as a result of domestic sewage and industrial effluent. This, however, has increased the focus on the water market which is now estimated to be worth over Rs.60,000 crores and one with an increased need of organized players”.

Commenting on the development, Mr. Sunil Ghorawat, founder and Managing Director of Earth Water Group, says “We are excited to have CLSA as an investor. Their strategic understanding of the water sector, extensive experience, strong international network and above all their commitment to our company, is of significant value to our future. The fund will be used to strengthen existing core initiatives and for acquiring attractive and complementary businesses. It will also enhance the risk appetite of the company to take innovative and path-breaking means to redefine and develop Indian water industry, while also opening entry in areas like zero liquid discharge and desalination”.

On this association of CLSA and Earth Water Group, Peter Kennedy, Managing Partner, CLSA quoted “We are very excited to partner with an upcoming market leader in the water sector, Water is a core area for our fund and we have been looking for several years for the right partner in India. We were impressed with Earth Water Group founder’s strategic vision and strong desire to take his business to scale. We looked at various business models in the Indian water sector and felt that Earth Water Group is the best suited opportunity to provide long-term professional management, national reach, strong customer relationship and a healthy order book which places it in a strong position to be a market leader in the water sector.”

Sanjeev Krishnan, Director, CLSA and newly appointed board member of Earth Water Group says, “These funds provide us an opportunity to bring in new technologies, adapt them for Indian conditions, and to create intellectual property that will have global value. The company also has well defined plans to invest in people, processes and technology partnerships to support its growth path.”

“Water is the new Sunrise sector” - Sunil Ghorawat in Financial Chronical

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