GPS Renewables, a leading technology and engineering company in clean fuels, has bagged contracts worth Rs 20,00 crore for multiple compressed biogas (CBG) projects, also known as renewable natural gas (RNG), throughout India.
The company plans to establish CBG plants that will process 4,000 tonne per day of agri-residue and energy crop, in addition to 300 tonne per day of Municipal Solid Waste (MSW). This initiative is set to yield a minimum daily output of 350 tonne of CBG, targeting landfill reduction and promoting sustainable energy.
GPS Renewables seeks to develop its own CBG projects in partnership with Indian Oil Corporation (IOCL) and is investing in technologies for sustainable aviation fuel production. The company's research arm, GPSR Aavishkar, is conducting advanced research in anaerobic fungi and multi-feedstock compliant digester technologies, highlighting its dedication to innovation in clean energy solutions.
The company focuses on building a profitable solution to tackle India’s waste-to-bioenergy challenge. As of now, it has an order book of Rs 2,000 crore from leading conglomerates in the country. This showcases its commitment towards accelerating the substitution of fossil fuel with bio-energy and playing a key role in mitigating climate change.
In FY22-23, GPS Renewables generated a turnover of Rs 153 crore, a substantial increase from the previous financial year, and expects to surpass Rs 500 crore in turnover in FY 23-24.
