Coromandel Doubles Down on Sustainable Agriculture: Increased Investment in Ecozen

Coromandel International Limited, a leading Indian provider of agri-solutions, announced a significant step towards a more sustainable future for agriculture. The company has increased its investment in Ecozen Solutions Pvt. Ltd (Ecozen) by ₹24 crore through its wholly-owned subsidiary and venture capital arm, Dare Ventures Limited.

Boosting Stake in Climate-Smart Solutions

This strategic investment elevates Coromandel’s ownership stake in Ecozen to 5.54%, representing a 3.13% increase. This move underscores Coromandel’s commitment to supporting innovative and sustainable agricultural solutions championed by Ecozen.

Ecozen: A Beacon of Innovation and Impact

Ecozen has established itself as a pioneer in climate-smart agricultural technologies. Their innovative solutions, such as solar-powered irrigation systems (Ecotron) and cold chain systems (Ecofrost), have demonstrably improved the lives of over 1,80,000 Indian farmers. By leveraging cutting-edge technologies like Artificial Intelligence (AI), Internet of Things (IoT), and energy storage, Ecozen’s solutions not only enhance farm incomes but also contribute significantly to reducing greenhouse gas emissions and minimising food losses.

Looking ahead, Ecozen has set its sights on expanding its footprint beyond India. The company plans to introduce its innovative solutions to farmers in Africa and Southeast Asia, contributing to building a more climate-resilient and sustainable agricultural landscape across the globe.

“The remarkable strides made by Ecozen and its commitment to driving a positive impact on the livelihoods of farmers aligns with our vision of building a smart and sustainable future. Our increased shareholding in Ecozen reflects our confidence in the company’s ability to drive positive change and create long-term value for stakeholders,” said Ms Jayashree Satagopan, President, Corporate and CFO, Coromandel International Limited.

“We are immensely grateful for the continued support and investment from Dare Ventures, which underscores their belief in our mission and potential. Their contribution has been instrumental in our journey towards expanding our impact and reach. With Coromandel by our side, we are confident in our ability to accelerate the adoption of climate-smart technologies globally, empowering farmers and fostering sustainable growth,” said Mr Devendra Gupta, CEO and Co-Founder of Ecozen.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.