Project Detail:
The transaction involves the administration of an equity investment of up to the Indian rupee equivalent of $2,000,000 to be provided by the Asian Development Bank (ADB) Ventures Investment Fund 1 in Smart Joules Private Limited (SJPL) in India. Consistent with the establishment arrangements for the fund, ADB will not invest its own capital alongside the fund. SJPL is an India-based provider of data-driven energy efficiency solutions for commercial buildings, targeting large hospitals as the beachhead market. SJPL delivers energy savings through a combination of (i) a proprietary Internet of Things (IoT)-based sensing and analytics platform, and (ii) the application of an Energy Efficiency as a Service (EEaaS) business model. The investment will improve energy efficiency in commercial buildings by reducing carbon emissions and making the distribution system smarter.
Note: Please Download Project Document attached to this Project for more information.
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