Russia’s Republic of Tatarstan and Wermuth Asset Management are seeking to launch a €200 million clean technology fund, Reuters reports. The Tatarstan Clean Tech Fund will focus on boosting energy efficiency and managing industrial waste in Russia.

Contributions to the new fund include €100 million by Tatarstan and €10 million by Wermuth. The remaining €90 million are yet to be raised. The fund aims to invest in companies that produce waste-to-energy technology, bio diesel fuel and nano technologies that will be used to raise the oil recovery levels on the region’s largely depleted fields.

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