Yokogawa Enters Investment & Collaboration Agreement with Startup Ideation3X

Yokogawa Electric Corporation has announced that it has made a US$10 million Series B investment in Ideation3X Pte. Ltd. (i3X), a Singapore-based venture company that is targeting the rapidly expanding integrated solid waste management (ISWM) sector in India with a process that adopts a circular economy approach.

Founded in 2017, i3X has been backed since its inception by Unison Capital Group, a Japanese private equity firm. i3X that delves into ISWM, offers technology for producing high-quality alternative fuels from waste. Due to Unison Capital’s support, the company’s ESG management has been highly evaluated and is one of the factors for it being entrusted with waste treatment projects in three Indian cities, including New Delhi.

With this investment in the high-growth ISWM field, Yokogawa aims to develop its business in the Indian market.

Tsuyoshi Abe, Yokogawa’s Senior Vice President and Head of the Marketing Headquarters, commented, “Yokogawa has been investing strategically to develop business opportunities in the growing Indian market. This investment enables us to bring together Ideation3X’s knowhow, the ecosystem that will form around its business, and Yokogawa’s technology and experience. Expressing his confidence, he said that besides business expansion, the collaboration would also address one of India’s most serious social issues.

Yokogawa established a local subsidiary in the Indian market in 1987 and has since been delivering control systems for plants in the energy industry, monitoring systems for water supply and wastewater networks, and other industrial products and solutions. The company also has significant experience in providing control systems for waste-to-energy plants around the world.

However, through this investment in i3X, Yokogawa will be able to contribute to the formation of a circular economy-based ISWM framework that is appropriate for the Indian market, and make full use of its measurement and control technologies to support the achievement of the Clean India Mission, which aims to improve the environment in cities throughout the country. The initiative is attracting attention due to the potential immense social impact and its importance in countering global warming. While providing technical support for the development of i3X’s business, Yokogawa will also look to expand its engagement in this sector by undertaking the formation of a consortium with related organizations and companies.

Yokogawa Electric Corporation recently announced the acquisition of Fluence Analytics, Inc., a US-based startup.