DWS completes CEEF investment in ESSE
DWS has closed the third investment commitment by the Clean Energy and Environment Fund (CEEF) in ESSE, a cleantech firm based in China specialising in greenhouse gas emission reduction and industrial solid waste recycling.
Established in 2013, ESSE has quickly grown into one of China’s leading companies specialising in greenhouse gas emissions mitigation. ESSE uses advanced technology to safely treat industrial emissions by extracting toxicity - including sulphur dioxide, nitrogen dioxide, carbon monoxide and carbon dioxide - creating an additional by-product that can be used in new catalyst, desulphurisation, denitrification and construction materials.
ESSE operates across China’s major coastal and mainland provinces and CEEF’s investment will provide further scale and strategic direction to its expansion. CEEF’s funding will enable ESSE to further build its team, expand its scale, and promote its new materials business whilst growing the development of proprietary technology.
Priscilla Lu, Head of Sustainable Investments, Asia Pacific at DWS, says:
“ESSE‘s cutting edge technology in reducing greenhouse gas emissions squarely addresses climate change and this is why we are excited to be investing in them. This investment also aligns to China’s net-zero pledge at the recent climate summit.”
Andrew Pidden, Head of Sustainable Investments at DWS, says: “The investment in ESSE fits well with our strategy of backing companies leading green infrastructure projects in pollution reduction, reduction of carbon emission intensity, waste treatment and cleaner production. ESSE’s ability to tangibly reduce greenhouse gas emissions is increasingly important as we transition towards a sustainable low-carbon economy.”
Changhui Tong, Chairman of The Board of ESSE, says: "This investment from CEEF will allow ESSE to increase the conversion of industrial solid waste into new materials, and increase investments in technology and production systems for the application of these new materials, whilst reducing environmental pollution. We will additionally focus on building our expertise in the operation and maintenance of environmental management facilities and strengthen our ongoing investment in greenhouse gas emission reduction technologies that support the realisation of global carbon neutrality goals."