Biofuels company GPS Renewables raises $50M in debt funding for CBG plant expansion and green energy transition in India.
Biofuels company GPS Renewables raised $50M in debt funding from private and public lenders, including Punjab National Bank, HDFC Bank, ICICI Bank, and others. The firm, founded by IIM-B alumni Mainak Chakraborty and Sreekrishna Sankar, plans to use the funds to expand its nationwide execution of compressed biogas (CBG) plants and support India's transition to sustainable green energy. GPS Renewables provides end-to-end solutions for the development, production, and distribution of biofuels and has previously raised $20M in equity funding.
April 16, 2024
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