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GIC snaps up 25% stake in Reworld
Partnership with EQT aims to promote sustainable alternatives to waste disposal
Tom King 4 Oct 2024

EQT Infrastructure V has sold a 25% minority stake in Reworld Waste, a US-based sustainable waste solutions and energy-from-waste services firm, to Singapore’s wealth fund GIC. The partnership is aimed at accelerating Reworld's growth in North America’s sustainable waste market.

EQT, which took Reworld private in 2021, retains the majority stake, while GIC’s investment brings significant capital, expertise, and resources. Since its privatization, Reworld has nearly doubled its operations, and it is now managing over 100 facilities, serving 4,600 clients, and processing more than 20 million tonnes of waste annually.

Reworld’s focus on recycling, waste reduction, and recovery aligns with the increasing demand for sustainable alternatives as landfill capacity dwindles and regulations tighten. GIC’s backing comes at a time when global interest in sustainable infrastructure is surging, particularly in Asia.

GIC, known for its active involvement in sustainability investments, sees the stake acquisition as part of its broader strategy to support the global transition to a net-zero economy.

“As a long-term investor, the expansion of our partnership with Reworld reflects the significant potential for more sustainable alternatives to waste disposal, an essential service for all communities,” says Ang Eng Seng, chief investment officer, Infrastructure, at GIC.

GIC says it is committed to supporting the transition to net-zero in the real economy, and this funding will support Reworld’s ambitious growth plans to deliver a lower-emission alternative to landfills.”

The transaction is expected to close in early 2025, subject to regulatory approvals.