Water tech innovator Gradiant India ties up with cKers Finance for $1-mn debt finance
Gradiant India Private Limited, the Chennai-based water treatment technology innovator, has tied up with cKers Finance, an Indian NBFC focused on financing sustainability and clean energy transition, for a $1 million debt financing deal.
The investment would be used to finance a 4 million litre per day (MLD) effluent treatment plant (ETP) set up on a design-build-own-operate-maintain (DBOOM) basis for an invested grade off taker in the chemicals industry.
Founded at the US-based Massachusetts Institute of Technology (MIT), with global R¢re D in Singapore, Gradiant is a water treatment technology innovator which offers solutions for treating complex industrial effluents with a lower energy footprint and higher water recovery. It helps industrial clients to reduce their water footprint, achieve sustainability goals and meet zero liquid discharge regulations.
Its Indian operations, Gradiant India Private Limited, service clients on both CAPEX (EPC) as well as OPEX (DBOOM/BOO) basis.
“At Gradiant, our focus is to serve the clients who face the most complex water and wastewater challenges with innovative and sustainable solutions. We have over 200 patents to our name, aimed at saving our customers time, money and leave a smaller environmental footprint for the benefit of the world. We have setup an experienced on-ground team in India with extensive design, construction and operation skills”, said Gradiant Founder Anurag Bajpayee.
In India, Gradiant has been engaged with customers from tanneries and refineries, textiles, pharmaceuticals, power and petrochemicals industries and offering environmental and efficient treatment, reuse and recycling of flowback and produced water.
cKers Finance, a specialized Sustainable Energy (SE) finance company operates in the rapidly growing segments around clean energy, eMobility and energy efficiency.
“cKers has been a market leader in financing clean energy and clean mobility. This is the first time we have entered into the clean water space, as we have been able to develop our understanding of the sector and are getting access to the right technology partner in Gradiant. There is a large market for industrial projects – Rs 100 – 500 million where there is a gap seen in terms of both solution providers and financing. This is where we want to act as enablers to help project financing for distributed water reuse infrastructure in the industrial sector. We plan to build on this knowledge further and use it as a stepping stone to lend further in the water sector”, said cKers Finance Business Development Head Deepak Gupta.
