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Gruner Renewable Energy Secures $60 Million to Expand CBG Projects

Posted on by darion

Gruner Renewable Energy said Monday it has secured $60 million in financing that will enable the company to further expand into the green energy market as it looks to launch new compressed biogas (CBG) plants across the country.

The company is committed to scaling up its research and development (R&D) efforts to make a significant contribution to Prime Minister Narendra Modi’s vision of energy independence and sustainable development for India.

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Gruner plans to use the funds to significantly expand its operations and market presence.

The main objective of the investment will be to introduce breakthrough technology and highly efficient processes to the biogas industry. A significant part of the funds will be allocated to supporting research and development (R&D) initiatives.

The company said it will continue to focus on improving energy efficiency and accuracy of biogas production, with a goal of significantly increasing energy efficiency in the forecast.

In addition, the funds will support business expansion, including setting up new biogas plants in India, increasing the number of 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, it added.

“Establishing CBG plants in India is key to supporting a self-sufficient and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we are making a significant contribution to India’s vision of energy independence,” said Utkarsh Gupta, Founder and CEO, Gruner Renewable Energy.

The announcement in the Union Budget 2023-24 to set up 500 new waste-to-wealth plants under the GOBARdhan initiative has been a significant boost for the sector. With 113 CBG plants in operation, 667 under development and 171 under construction, the growth is significant.

These policy drivers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential to drive this transformation, he added.

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