Green energy technology company based in Pune, Greenjoules has announced that it has secured $4.5 million in funding, mix of debt and equity, from Blue Ashva Sampada Fund of Blue Ashva Capital.
The platform aims to use the fresh funds raised for undertaking R&D initiatives and to set up commercial scale waste-to-energy plants.
VS Shridhar, co-founder and chief executive of Greenjoules Pvt Ltd., said “With this round of funding, we are well placed to play a significant role in serving the large industrial market, who have board mandates to switch to environment friendly fuels.”
Established in early 2018, GreenJoules has Biorefinery located in Chakan, near Pune, India. The company claims that it specializes in making renewable Biofuels, commonly recognized as “Drop-in Fuels”, which are curated entirely from agricultural residue and renewable wastes from agro processing industries.
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