Clean Edge Takes Over Lars Enviro In A Remote Deal
Clean Energy invested INR 33 crore in Lars, including the amount paid for the purchase of equity from promoters
Nagpur-based Lars Enviro Private Limited, a 25-year-old company, has been taken over by Singapore entity Clean Edge. The collaboration began by making wastewater plant treatments and has now spread to the manufacture of a broader range of waste-to-energy plants, like bio-CNG. The deal took place online, with due diligence of physical assets done remotely, and was finalised in April 2022. Clean Energy invested INR 33 crore in Lars, including the amount paid for the purchase of equity from promoters.
During the pandemic, Clean Energy wanted to expand its clean energy portfolio via environment management, biofuels, and wastewater management. Lars Enviro began its career by supplying waste water treatment solutions to distilleries before expanding its business, including clients stationed abroad.