₹360 Million Funding From Shell Goes To PRESPL For Biomass

In Bio, Clean Fund, Clean News, News, Renewable Energy

Punjab Renewable Energy Systems Pvt. Ltd. (PRESPL), an Indian biomass-based energy company, has raised private equity investment from Shell.

With this follow-on fund investment by Shell, the ‘Series-B’ round of PRESPL stands fully subscribed and closed.

responsAbility was the first to invest in the company’s Series-A funding on September 2013, followed by a Series-B investment from Neev Fund in April 2019. PRESPL now has raised ₹360 million (~$5 million) from Shell.

Intellecap served as the exclusive investment banker for these investments in ‘Series-A & B.’

PRESPL has also partnered with biofuel manufacturing companies such as Bioethanol, Bio-CNG, and Drop-in Fuels.

The investment from Shell will be utilized for business expansion in the bio-energy sector and biomass supply chain management space in India; aiming to emerge as the strongest player in India to tackle the issues of climate change through biomass waste.

PRESPL’s biomass collection expertise supports rural development and contributes to sustainable economic development. Shell is keen to play an active role in the energy transition in India, supporting economic growth with clean energy solutions.

This is a Syndicate News-Feed

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