The venture capital arm of engineering giant Siemens has announced it has bolstered its portfolio of green investments with the acquisition of a stake in India-based waste heat recovery specialist Transparent Energy Systems.
Pune-based Transparent provides a range of industrial waste heat recovery and combined heat and power systems, as well as energy-efficient boilers and heaters, and biodiesel and biogas technologies.
The deal represents SVC’s 12th investment in the field of energy and environmental technologies, and the company said that clean tech companies now make up over 30 per cent of its investment portfolio.
The deal is the latest in a series of high-profile green initiatives from Siemens, which last month reported that it expects to generate about €6bn in revenue globally from governments’ green stimulus packages.
