GPS Renewables Secures ₹635 Crore to Scale India’s Bioenergy Infrastructure

BENGALURU, India – June 11, 2026 – In a move that signals robust confidence in India's bioenergy future, GPS Renewables (GPSR) has successfully raised ₹635 crore in a Series C funding round. The capital infusion is set to accelerate the Bengaluru-based company’s mission to build out the nation’s renewable gas and oil infrastructure, transforming organic waste into a critical asset for energy security and decarbonization.

The funding provides a significant boost to a company that has methodically built itself into a cornerstone of India's green energy transition. With a pipeline of large-scale compressed biogas (CBG) projects on the horizon, this capital is not just a vote of confidence but a crucial tool to execute an ambitious national vision.

A Multi-Layered Financial Strategy

The structure of the ₹635 crore raise reveals a sophisticated, multi-pronged strategy designed for rapid scaling. The deal comprises ₹125 crore in direct equity led by PixelSky Capital, with participation from Spectrum Impact Family office. This is strategically augmented by a ₹200 crore equity tie-up from a leading Korean conglomerate for GPSR Arya, the company's asset-holding subsidiary responsible for developing and owning projects. This follows a previous tie-up of ₹310 crore from Japan’s Sojitz Corporation for an asset platform business in partnership with Indian Oil Corporation (IOC).

This layered approach allows GPS Renewables to separate its engineering, procurement, and construction (EPC) business from its long-term asset ownership, enabling different types of capital to fund different parts of the value chain. It’s a financial architecture built for endurance and scale.

"The capital raise is a testament of the growing potential of the Renewables Natural Gas sector and a step towards contributing towards an energy secure nation," said Mainak Chakraborty, Co-founder and CEO of GPS Renewables. He emphasized that the funds enhance execution capabilities for a growing portfolio of large-scale projects.

Investors are clearly buying into this vision. Zerin Rahman, Managing Partner at PixelSky Capital, noted the company's disciplined growth, stating, "Their proven track record of consistently delivering and being profitable since inception gave us a lot of confidence in their technology and execution capabilities."

This sentiment was echoed by Akshay Panth, Chief Investment Officer of Neev Funds, an early backer. "GPSR's expanding portfolio in Sustainable Aviation Fuel (SAF), positions them strongly to deliver large-scale decarbonisation impact to solve India's energy transition and security challenges," Panth commented, highlighting the company's evolution from a biogas specialist to a diversified bioenergy platform.

Fueling a National Mandate

This funding arrives at a pivotal moment for India. The nation is actively working to reduce its heavy reliance on imported fossil fuels and tackle pressing environmental challenges, from urban waste management to air pollution caused by agricultural stubble burning. Bioenergy, particularly CBG, sits at the nexus of these issues, offering a circular solution that turns waste into a valuable energy source.

The government's Sustainable Alternative Towards Affordable Transportation (SATAT) scheme has been instrumental in creating a viable market, guaranteeing the purchase of CBG by state-owned oil marketing companies. GPS Renewables has positioned itself at the very center of this national strategy. It is the only company in India to have established joint ventures with both Indian Oil Corporation and Bharat Petroleum Corporation Limited, along with a partnership with Oil India, to build out a nationwide network of CBG plants.

These partnerships provide the critical offtake security and distribution network needed to de-risk large-scale infrastructure investments. By processing agricultural residue, municipal solid waste, and other organic materials, these plants will not only produce clean fuel but also create a new revenue stream for farmers and help municipalities manage waste more effectively.

From Blueprint to Reality

With over a decade of experience, GPS Renewables has moved beyond promises to proven execution. The company, now more than 800 employees strong and generating annual revenue of approximately ₹1,000 crore, has a portfolio of industry-first projects.

These include Asia's largest municipal solid waste-based CBG plant in Indore, which processes vast amounts of city waste, and one of the world's fastest-executed CBG plants in Barabanki. An upcoming CBG complex in Kakinada is poised to be among the largest globally. This track record is crucial, as it demonstrates the company's ability to handle the complex logistics of feedstock sourcing, project construction, and plant operation.

The new funding will directly fuel the expansion of this work. With over 30 projects already operational or nearing completion and a line of sight on more than 200 additional CBG projects, the company is shifting from building individual plants to developing a comprehensive, interconnected energy system.

The Next Frontier: Greening the Skies

While CBG forms the core of its current operations, GPS Renewables is already looking toward the next frontier of decarbonization: aviation. The company recently secured a landmark contract from NTPC Limited, India's largest power utility, to construct the country's first Ethanol-to-Jet (ETJ) Sustainable Aviation Fuel (SAF) plant.

This project represents a significant technological leap, addressing one of the most challenging sectors to decarbonize. As India mandates a phased blending of SAF in jet fuel starting in 2027, the market potential is immense. The NTPC contract places GPS Renewables at the forefront of this emerging industry, leveraging its expertise in bio-process engineering to tackle a new and complex challenge.

By converting waste and agricultural byproducts into fuel for vehicles, industries, and now airplanes, GPS Renewables is not just building a company; it is building the machinery for a circular economy, demonstrating that the path to a sustainable future is paved with the resources we once considered worthless.