Gruner Renewable Energy Secures USD 60 Mn to Expand CBG Plants and Innovate in Green Energy The Noida-based startup will use new investment to expand its CBG plants, boost R&D, enhance efficiency, and explore new sectors like SAF and green hydrogen.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Gruner Renewable Energy, a leader in sustainable biogas solutions in India, has secured USD 60 million in funding.
As per the official release, this investment will enable Gruner Renewable Energy to further expand its presence in the green energy domain as it moves ahead to establish new Compressed BioGas (CBG) plants across the country.
Utkarsh Gupta, Founder and CEO of Gruner Renewable Energy, said, "Establishing CBG plants in India is crucial for fostering a self-reliant and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we contribute significantly to India's vision of energy independence."
"The Union Budget 2023–24 announcement to establish 500 new waste-to-wealth plants under the GOBARdhan initiative has been a major boost for the sector. With 113 functional CBG plants, 667 in development, and 171 under construction, the growth is substantial. These policy enablers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential for driving this transformation," Gupta added.
Gruner plans to utilise the raised funding to significantly enhance its operations and market presence. With a primary aim of introducing breakthrough technology and highly efficient processes in the biogas industry, a substantial portion of the investment will be allocated to advancing research and development (R&D) initiatives, focusing on increasing energy efficiency and the accuracy of biogas production and targeting a projected substantial increase in energy output efficiency.
Additionally, the funds will support business expansion, including establishing new biogas plants across India, scaling up CNG retail outlets, and exploring new business verticals such as sustainable aviation fuel (SAF) and green hydrogen. This strategic investment is expected to exponentially increase Gruner's market share over the next five years.
Founded in February 2023, Gruner Renewable Energy excels at installing top-tier biogas plants. Leveraging advanced German technology, the company installs efficient biogas plants and has achieved over INR 40 crore in turnover within five months. With 200 employees and over 50 projects, Gruner is committed to advancing renewable energy and sustainability in India.
Gruner Renewable Energy claims that it is also establishing Asia's largest CBG plant in Navsari, Gujarat.
"As the Modi 3.0 government has taken charge, the biofuels industry anticipates policy reforms that will facilitate the expansion of new CBG projects nationwide. Biofuels will be essential in helping the country achieve its net-zero ambitions. Government subsidies, tax credits, and substantial funding for R&D will be crucial in leveraging the opportunities inherent in CBG projects. This vision aligns with the goal of 'Viksit Bharat' (developed India), where sustainable and self-reliant energy solutions drive economic growth and environmental stewardship," added Utkarsh.
According to Utkarsh, encouraging the cultivation of energy crops through direct subsidies and financial incentives for farmers is essential. This approach not only supports the agricultural sector but also ensures a steady supply of feedstock for biogas production. By providing these incentives, the government can promote sustainable farming practices and contribute to the growth of the renewable energy sector. This strategy will help build a self-reliant and sustainable future for India.
