Japan’s Mitsui & Co Ltd will invest Rs 30 crore (USD 4.1 Million) in Punjab Renewable Energy Systems Pvt Ltd (PRESPL), one of the leading biomass supply-chain management companies in India.
PRESPL is involved in the collection, storage and processing of agricultural residues. It produces biomass briquettes and pellets to meet the growing demand for biomass fuel from India’s rapidly expanding bio-energy industry. It also provides a range of operation and maintenance, and other technical services to the industry.
Mitsui on the other hand is a global trading and investment company with a diversified business portfolio that spans approximately 65 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
This investment is aligned with one of Mitsui’s important goals to create a more sustainable society while furthering the expansion of bio-energy business in India.
In partnership with Mitsui, PRESPL aims to make a meaningful contribution to tackling climate change through the better utilization of biomass agricultural waste for bio-energy.
In 2019, PRESPL, had raised a Rs.360 Million funding from Shell which is being 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.
This is a Syndicate News Feed; edited by Clean-Future Team