CII-Godrej facilitates Rs 16.49cr investment in green business

New Ventures India (NVI), a joint initiative of CII-Sohrabji Godrej Green Business Centre and US-based World Resource Institute, has facilitated investment worth Rs 16.49 crore in three companies.

NVI received a total of 56 business plans from green entrepreneurs across the country in early 2006, of which it selected 10 green enterprises. These enterprises were invited to present their business plans at the 'Investor Forum 2006'. Of these, three companies were shortlisted for investments.

"This year, three companies "� Conserve HRP, HMX Sumaya and ABT Bioproducts "� received green investments to the tune of Rs 16.49 crore and we hope many such investments will follow in the days to come," Jamshyd N Godrej, chairman of CII- Sohrabji Godrej GBC, said in a press release on Wednesday.

Conserve HRP, a supplier of environment-friendly recycled fashion accessories, has tied up with Danish fashion business retailer, Bestseller. Conserve has formed a private limited company called BS Studio and Services India Private Limited and Bestseller will invest 2 million euros in it.

They have already received half a million in the first phase. This newly-formed company will have access to 3,500 retail stores in Europe, West Asia and China.

Bangalore-based HMX Sumaya, which produces innovative, environmentally-friendly heating, ventilation and air-conditioning (HVAC) solutions, is the second company to receive debt funding of Rs 4.99 crore from ICICI Bank, while ABT Bioproducts received seed funding of Rs 50 lakh from an angel investor.