BS Enviro Solutions Acquires Majority Stake in Skywater India

BS Enviro Solutions and Harbinger Capital Partners form Joint Venture to Provide Water Generation Technology throughout India

Hyderabad 04 March 2013: BS Enviro Solutions Ltd, a subsidiary of BS Limited, today announced that is has reached an agreement to acquire a majority (51%) stake in Harbinger Capital Partners’ Skywater India Pvt Ltd. (“Skywater India”).

Skywater India manufactures and installs advanced air to water generators in areas with little or no access to clean drinking water.  Through its investment, BS Enviro will become the local operating partner of the business and will assume responsibility for the day-to-day management of Skywater India.  This joint venture marks the BS Enviro Solutions foray into the potable/ renewable water generation segment.

Foreseeing the huge potential in the potable water generation segment, BS Enviro solutions will leverage Skywater India’s license for patented, unique technology which generates water from the atmosphere. The sophisticated atmospheric water generator produces ozone treated pure drinking water from moisture in the air and is highly energy efficient. It converts water vapor in the air into fresh and clean water and can produce anywhere from 700 liters to more than 1200 liters per day.

The joint venture with Harbinger Capital Partners will position BSES to work with local governments across India to help meet the pressing need in villages across the country for safe and adequate drinking water. Apart from India, BSES will also have access to markets in Malaysia, Singapore, Brunei, Cambodia, Laos & Myanmar.

 “We look forward to work with Harbinger Capital Partners to tap into the huge opportunity of helping India’s rural communities’ access clean water and improve the health of their citizens.” said Mr. Rajesh Agarwal, Chairman & Managing Director, BS Limited.

Sanjay Sultania, Promoted & Managing Director, BS Enviro Solutions Ltd said “Skywater’s unique technology will provide access of clean drinking water to multitudes of citizens who have little or limited access to safe drinking water. We aim to bring in innovative ideas to create solutions for affected citizens.”

“We are pleased to enter into this partnership with BS Enviro Solutions, and believe  Chairman Rajesh Agarwal and Managing Director Sanjay Sultania have the unique operational experience, deep network and local knowledge to lead the next stage of Skywater India’s growth,” said Keith Bernard, Chief Operating Officer of Applica Water Products, Skywater India’s U.S. based affiliate. 

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About BS Enviro Solutions Pvt Ltd

BS Enviro solutions Ltd, a subsidiary of BS Limited, incorporated in 2012 to cater to the group’s interests in Water & Waste Water and Solid Waste Management solutions. Co-promoted by BS Limited, led by Chairman & Managing director Rajesh Agarwal and Sanjay Sultania. Our vision is to provide multi-disciplinary environmental management solutions in Liquid and solid waste which include handling & recycling of hazardous waste, e-waste, medical and water & waste water. An integrated common facility which will facilitate treatment of hazardous, e-waste and bio medical waste and recycling is also being expedited.

About Harbinger Capital Partners

Harbinger Capital Partners is a multi-billion dollar private investment fund based in New York which employs a fundamental approach to investing. Harbinger Capital Partners is led by Philip A. Falcone who has been the Chief Executive Officer and Chief Investment Officer of funds affiliated with or managed by Harbinger Capital Partners since 2001. Mr. Falcone has more than 20 years of investment experience across an array of market cycles.

About BS Limited

A leading Infrastructure provider, BS Limited, (formerly known as BS TransComm Ltd), has been augmenting its core business in Power Transmission & Distribution and Passive Telecom infrastructure and has expedited its presence in Mineral Resources and Environmental Management. The Company has an Integrated Business model in its core business, Power & Teleservices, with nationwide EPC strength for executing Turnkey projects. Headquartered in Hyderabad, BS Limited has PAN India Presence with more than 1000 employees. The Tower manufacturing facilities are located near Hyderabad with an annual installed capacity of 2, 40,000 MTPA. The company is certified with Quality Management (ISO 9001:2008), Environmental Management (ISO 14001:2004) and Occupational Health and Safety (OHSAS 18001:2007).