Bioenergy technology firm raised Series B funding from Neev Fund II, managed by SBICap Ventures. The most recent round of money will go into research and development as well as supporting GPS Renewables' next phase of growth and expansion.
The 'BioUrja,' a captive biogas product from GPS Renewables, was the company's first product. Microsoft, Intel, Bosch, Cummins, Saint Gobain, Reliance, and several other large hospitality chains such as Oberoi, Taj, ITC, Marriott, Hyatt, and Accor Groups are among the company's clientele. Over the last several years, the company has successfully increased its capacity by over 5000x, establishing itself as the go-to project integrator in the bioenergy area, covering BioCNG, Bioethanol, and Green Hydrogen.