According to reports, GPS Renewables, a business that develops waste-to-energy and biofuel projects, has received an investment of Rs 40–45 crore from the secondary-focused investment vehicle PixelSky Capital.
According to an ET article, the acquisition represents PixelSky’s foray into the clean energy industry and coincides with India’s growing interest in renewable fuel companies.
Investment banking company IndigoEdge and businessman Hitesh Ahuja, who founded Yumlane, support PixelSky Capital.
GPS Renewables was established in 2012 and offers engineering and technical solutions for biofuels, such as ethanol, green hydrogen, and compressed biogas (CBG). The company has constructed more than 100 biogas facilities nationwide and turns organic waste and agricultural leftovers into renewable energy.
Through project development and fundraising, GPS Renewables has grown its operations over the last two years. The business obtained $50 million in debt financing in 2024 to help implement compressed biogas facilities around the country. Additionally, it is working with Indian Oil Corporation and Bharat Petroleum to construct other CBG projects.
The most recent investment is anticipated to help GPS Renewables build new renewable energy projects and scale its biofuel infrastructure.
In addition to investigating prospects in other alternative fuels, such as sustainable aviation fuel, the company is presently developing a pipeline of biogas projects.
