Under this agreement, IEX will acquire 10% stake in the Company through Compulsory Convertible Preference Shares (CCPS) from EEIPL.

This strategic move aligns with IEX's unwavering commitment to sustainability and decarbonization, in harmony with India's Net Zero commitments and to promote Circular Economy.

EEIPL, through this deal will be able to augment the value offering of its Material Waste Platform (MWP), which brings together all stakeholders in the waste sector. MWP holds significant potential to enhance the scientific processing of waste across India and establish a circular economy for a wide range of waste materials.