Revolutionising the clean fuels landscape, GPS Renewables, the engineering powerhouse, has clinched Rs 2000 crore worth of orders for multiple compressed biogas (CBG) projects
With ambitious initiatives targeting agricultural residue, energy crops, and municipal solid waste, GPS Renewables is setting itself up to reshape waste management and significantly boost clean energy production.
The CBG plants, specially designed to process 4,000 tonnes of agri-residue and energy crops daily, will also handle 300 tonnes of municipal solid waste per day for biogas production, effectively curbing landfill accumulation. These projects aim for a minimum daily CBG output of 350 tonnes.
With this substantial order book, GPS Renewables is on track to surpass a turnover of INR 500 crore in the fiscal year 2023–24.Despite rapid expansion, GPS Renewables has exhibited financial prowess, boasting an EBITDA of INR 17.5 crore with a PAT of INR 11 crore in FY22–23. The company, which has grown its employee strength from 72 to 175, currently employs 356 full-time professionals.
Mainak Chakraborty, CEO and Co-Founder of GPS Renewables, articulated the company's dedication to addressing India's waste-to-bioenergy challenge. He stated, "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 INR 2,000 crore from leading conglomerates in the country."
GPS Renewables plans to propel its clean energy initiatives through its climate infrastructure platform, GPSR Arya, in a joint venture with Indian Oil Corporation (IOCL) for compressed biogas projects.
The company's research and development arm, GPSR Aavishkar, is actively involved in ground-breaking research on anaerobic fungi for lignocellulosic biomass and multi-feedstock-compliant digester technologies.
Additionally, GPS Renewables invests in developing technologies and projects to supply sustainable aviation fuel, aligning with the evolving energy landscape.