Bengaluru-based renewable oil and gas company GPS Renewables (GPSR) has raised Rs 635 crore in a Series C funding round from a group of investors, strengthening its position in India’s rapidly growing renewable natural gas and bioenergy sector.
The funding round includes a Rs 125 crore equity investment led by PixelSky Capital, with participation from Spectrum Impact Family Office and other investors. In addition, the company has secured Rs 200 crore in equity for its asset-holding platform, GPSR Arya, from a leading Korean conglomerate.
This follows an earlier investment of Rs 310 crore from Sojitz Corporation for the company’s asset platform business. Together, these investments bring the total capital raised in the latest round to Rs 635 crore.
According to the company, the fresh funds will be used to support its next phase of growth, expand its bioenergy infrastructure portfolio, and fund ongoing as well as upcoming projects through GPSR Arya.
Founded with a focus on renewable oil and gas solutions, GPS Renewables has built strong capabilities across technology development, engineering, EPC (Engineering, Procurement and Construction), operations, maintenance, and project development over the last decade.
The company currently employs more than 800 people and generates annual revenue of approximately Rs 1,000 crore.
GPS Renewables has delivered several large-scale clean energy projects across the country, including solid waste-based compressed biogas (CBG) plants in Indore and Barabanki. The company said the latest investment reflects growing investor confidence in the renewable natural gas sector and will help accelerate the execution of its expanding project pipeline.
The company claims to have more than 30 operational or near-complete projects and visibility on over 200 compressed biogas (CBG) projects being developed in partnership with oil marketing companies.
Recently, GPS Renewables also secured an Engineering, Procurement and Construction (EPC) contract from NTPC to build India’s first Ethanol-to-Jet Sustainable Aviation Fuel plant. The project marks another significant step in the company’s efforts to support India’s clean energy transition and the development of sustainable fuel alternatives.
With the latest capital infusion and a growing project portfolio, GPS Renewables aims to further strengthen its role in advancing renewable energy infrastructure and sustainable fuel production in India.
-By Shivani Solanki
