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NewsVoir
Mumbai (Maharashtra) [India], October 18: Mondelez India has announced an investment in Promethean Energy, a homegrown climate-tech company focused on decarbonizing industrial heat. The move underscores Mondelez India's commitment to advancing scalable, innovative solutions that address industrial emissions and support the transition to a low-carbon economy. Promethean Energy leverages proprietary, IoT-enabled technology to capture and reuse waste heat, significantly reducing industrial greenhouse gas emissions. To date, the company's platform has helped abate over 100,000 tons of CO emissions across diverse sectors. Speaking about the investment, Ophira Bhatia, Vice President, India & Lead, AMEA, Corporate & Government Affairs, Mondelez International, said "At Mondelez, sustainability is embedded into every aspect of our business strategy--it's not an isolated priority. Our investment in Promethean Energy reflects our belief in the power of innovation to accelerate climate action. As we expand our sustainability footprint, we remain focused on measurable progress and long-term impact for both people and planet." Mr. Ashwin Krishna K P, Head-Energy Efficiency from Promethean Energy Pvt. Ltd. said, "At Promethean, our mission has always been to decarbonize industrial heat at scale. This partnership with Mondelez is a strong validation of our technology and vision. Together, we will accelerate the transition to low-carbon facilities, showing that sustainability and competitiveness can go hand in hand." This investment is being made through Sustainable Futures, Mondelez International's global impact investment platform that backs early-stage ventures driving social and environmental innovation. It builds on earlier partnerships such as the Circulate Capital Ocean Fund and reflects Mondelez's broader ambition to embed sustainability across its global value chain. Mondelez India Foods Private Limited (formerly Cadbury India Ltd.) has been present in India for more than 75 years. The company introduced Cadbury Dairy Milk and Bournvita in India in 1948 and since then has been a leader in the chocolate category in the country. Part of Mondelez International, the company has iconic brands like Cadbury Dairy Milk, Cadbury Dairy Milk Silk, Cadbury Celebrations, Cadbury Bournville, Cadbury 5Star, Cadbury Perk, Cadbury Fuse, Cadbury Gems, Cadbury Bournvita, Tang, Oreo, among several others in its portfolio. Headquartered in Mumbai, the company has sales offices in New Delhi, Mumbai, Kolkata and Chennai and manufacturing facilities at Maharashtra, Madhya Pradesh, Himachal Pradesh, and Andhra Pradesh, in addition to a global Research & Development Technical Centre and Global Business Hub in Maharashtra and a vast distribution network across the country. Mondelez International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2024 net revenues of approximately $36.4 billion, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, Ritz, LU, Clif Bar and Tate's Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka and Toblerone chocolate. Mondelez International is a proud member of the Standard and Poor's 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on X at x.com/MDLZ. Founded by IIT Bombay alumni, Promethean Energy builds industrial-grade heat pump systems and waste heat recovery solutions to replace fossil-fuel-based heating in large factories and commercial establishments. The company's proprietary systems combine high-efficiency thermal technology with thermal storage, smart controls, and real-time energy monitoring to deliver clean, reliable, and cost-effective heating. Learn more: prometheanenergy.com (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
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