Concord Enviro Systems Limited
Concord Enviro Systems is a publicly listed Indian water-treatment company that also invests off its own balance sheet. It specialises in zero liquid discharge (ZLD), recycling wastewater so none is discharged. As of 2026 Concord Enviro has taken minority stakes in two overseas water-technology startups, and has traded on India's exchanges since December 2024.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Concord Enviro Systems is the rare name in this directory that is not a fund at all. Concord Enviro is a Mumbai engineering company, founded in 1999, that builds the plants which recycle factory wastewater, and its speciality is zero liquid discharge, the strict version where an industrial site sends nothing at all down the drain. When Concord Enviro shows up as an investor, it is writing cheques off its own balance sheet, not deploying a pool of outside money the way a venture fund does.
Concord Enviro invests the way a strategic corporate does: it buys small stakes in startups whose technology it can fold straight into its own systems. The two water bets I can see in my Leviathan database both fit that pattern. Concord Enviro backed NALA Membranes, a US developer of chlorine-resistant reverse-osmosis membranes, and signed a multi-year deal to buy those membranes; and it took a stake in Water Harvesting, a US company that pulls drinking water out of the air, locking in exclusive rights to use that technology in India and the UAE. This is technology sourcing dressed as investing, and that is the whole point.
Concord Enviro grew out of Rochem Separation Systems, the membrane business the founding Goel family has worked in since the 1990s, so water treatment is the family trade rather than a recent pivot. The company went public in December 2024, and a listed balance sheet is what now funds these technology stakes. For a newcomer, the way to read Concord Enviro is as an operator that invests to get better at its own day job, an Indian water-treatment builder buying the membranes, sensors and processes it wants to sell, rather than a financial backer chasing a return on the round.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 2 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does Concord Enviro Systems do?
- Concord Enviro Systems builds water and wastewater treatment plants for industry, with a speciality in zero liquid discharge, treating factory effluent so that no liquid waste leaves the site. It serves sectors such as pharmaceuticals, chemicals, textiles and food and beverage, and runs installations across several continents from its base in India.
- Is Concord Enviro a venture capital fund?
- Concord Enviro Systems is not a venture fund. It is a publicly listed Indian water-treatment company that makes strategic investments off its own balance sheet, taking minority stakes in water-technology startups whose products it can license and integrate into its own zero liquid discharge systems rather than backing them purely for financial return.
- What has Concord Enviro invested in?
- Concord Enviro Systems has taken minority stakes in two overseas water-technology companies tracked by (don't) Waste Water: NALA Membranes, which makes chlorine-resistant reverse-osmosis membranes, and Water Harvesting, which produces drinking water from air. Both investments give Concord Enviro access to technology it can use inside its own treatment systems.
- Who runs Concord Enviro Systems?
- Concord Enviro Systems is led by founder Prayas Goel, its Chairman and Managing Director, alongside Executive Director Prerak Goel and Group CFO Anish Goel. The founding Goel family controls the company, which grew out of the membrane business Rochem Separation Systems and listed publicly in India in December 2024.
- Where is Concord Enviro Systems based?
- Concord Enviro Systems is headquartered in Mumbai, India, and has been listed on India's NSE and BSE stock exchanges since December 2024. From its Indian base it runs water-treatment installations across multiple continents and invests in water-technology companies based in the United States.