Green energy start-up Ossus Biorenewables has recently raised $2.4 million in a pre-Series A funding round from Gruhas and Rainmatter Climate, according to an announcement made on Wednesday. Ossus Biorenewables is dedicated to developing sustainable and eco-friendly energy solutions.
Ossus Biorenewables has secured $2.4 million in the pre-Series A funding round, which will be utilized to accelerate the deployment of OB HydraCel across multiple sectors, such as refining, foods, brewing, chemicals, and pharmaceuticals. The company aims to produce 3-5 tons of green hydrogen per day before the end of this year.
Speaking on receiving the investment, Suruchi Rao, Co-founder & CEO Ossus Biorenewables, said, “We are proud of the trust placed in us by our investors to revolutionize the green hydrogen space. We are currently the only company in India, producing and supplying hydrogen at less than a dollar per kilogram using wastewater. With the fresh infusion of funds, we will be poised to exponentially scale up the manufacturing of the HydraCel bioreactors, build enhanced bio-capability with state-of-the-art instrumentation, and most importantly, expand across South Asia, Europe, and the US.”
Nikhil Kamath, Co-Founder Zerodha, Gruhas, and True Beacon commented, “As the world moves towards more sustainable and environmentally friendly energy sources, Ossus Biorenewables is at the forefront of providing clean, green energy solutions. We are optimistic about India’s green energy future and look forward to supporting Suruchi and the entire team at Ossus.”
Abhijeet Pai, Co-Founder of Gruhas, adds, “Our investment aligns with Gruhas’s commitment to supporting companies that have a positive impact on the environment while also promoting young entrepreneurs. We believe that their green hydrogen solutions from effluent is a game changer innovation that can disrupt and help transition to a more sustainable future. We are excited to be a part of that journey with Ossus.”
Rainmatter Climate, also commented, “Emissions from fossil fuel are the biggest source of greenhouse gases. If we stand a realistic chance of transitioning to a greener tomorrow, we need multiple green energy sources, and hydrogen is a key piece of the puzzle. We are excited to partner with Ossus in this journey of mainstreaming hydrogen power in India.”
With India aiming to become a significant global green hydrogen hub, its G20 presidency, and a budget allocation of INR 19,700 crores for the National Green Hydrogen Mission, there is a perfect opportunity for the country to transition towards a low carbon intensity economy by replacing fossil fuels with green hydrogen.
Ossus Biorenewables’ innovative efforts are in line with India’s objective to produce 5MMT of green hydrogen annually, without the need to import electrolysers, by 2025. Currently, the company is providing its signature product to one of India’s largest steel manufacturers in Jharkhand.
