GPS Renewables, a leading full stack technology and engineering company focussing on clean fuels has announced that it has bagged orders worth Rs 2,000 crore, which will see it undertake multiple Compressed Biogas (CBG) projects (Renewable Natural Gas (RNG)) across the country.
The strategically positioned plants will process 4,000-tonnes per day of agri-residue and energy crop, with an additional 300-tonne per day of Municipal Solid Waste (MSW) processed for Biogas, preventing landfill accumulation. These initiatives collectively project a minimum daily output of 350-tonne per Day (TPD) of compressed biogas. With this substantial order book, GPS Renewables is on track to cross a turnover of Rs 500 crore in FY 2023-24, compared to a turnover of Rs 153 crore last year.
Till date, GPS Renewables has successfully established over 100 biogas plants, including Asia’s largest RNG plant based on Municipal Solid Waste (MSW) in Indore, Madhya Pradesh, which was inaugurated by the Prime Minister of India, Narendra Modi.
Mainak Chakraborty, CEO and Co-Founder, GPS Renewables said, “From inception to date, we have focused on building a profitable solution to tackle India’s waste-to-bioenergy challenge. Today, our company has an order book of Rs 2,000 crore from leading conglomerates in the country. This showcases our commitment towards accelerating the substitution of fossil fuel with bio-energy and playing a key role in mitigating climate change.”
In a recent development, GPS Renewables acquired Germany-based Proweps Envirotech, a leading design and engineering company specialising in technologies for utilising municipal and industrial organic waste and agri-residue for biogas production. Proweps brings extensive international experience in waste treatment, anaerobic digestion, and biogas upgrading plants.
Looking ahead, through its climate infrastructure platform – GPSR Arya, the company plans to develop its own Compressed Biogas (CBG) projects via a Joint Venture with Indian Oil Corporation (IOCL). Additionally, through its R&D arm GPSR Aavishkar, it is conducting research in developing anaerobic fungi for lignocellulosic biomass (plant-based dry waste) along with engineering multi-feedstock compliant digester technologies. Furthermore, GPS Renewables is investing in developing technologies and projects to supply sustainable aviation fuel too.