GPS Renewables Secures Purchase Orders worth INR 2000 Crores to Drive Nationwide Expansion of Compressed Biogas Plants
Bengaluru : GPS Renewables, India’s premier Full Stack Technology & Engineering company dedicated to Clean Fuels, proudly announces orders worth INR 2000 Crores to undertake multiple Compressed Biogas (CBG) projects (also known as Renewable Natural Gas (RNG)) across the country.
The strategically positioned Compressed Biogas Plants will process 4,000 Tonnes Per Day of Agri-residue and Energy Crop, with an additional 300 Tonnes Per Day of Municipal Solid Waste (MSW) processed for Biogas, preventing landfill accumulation. These initiatives collectively project a minimum daily output of 350 Tonnes per Day (TPD) of Compressed Biogas (CBG), solidifying GPS Renewables’ commitment to a cleaner and sustainable future. With this substantial order book, GPS Renewables is on track to cross a turnover of Rs 500 Cr in FY 23-24.
In the preceding financial year (FY22-23), GPS Renewables achieved a remarkable total turnover of Rs. 153 Crores, reflecting a significant increase of over 100% compared to the previous fiscal year. Accompanying this growth, the company increased its employee strength from 72 to 175, currently employing 356 full-time professionals. Despite rapid expansion, GPS Renewables maintained profitability, reporting an EBITDA of Rs 17.5 Cr with a PAT of Rs 11 Cr in FY22-23. The company remains confident of sustaining similar levels of profitability in FY23-24.
As a trailblazer in biofuel technology and project development, 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, inaugurated by the Honourable Prime Minister of India, Shri Narendra Modi.
Mainak Chakraborty, CEO and Co-Founder of 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 INR 2,000 Crores 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 GmbH, a leading design and engineering company specializing in technologies for utilizing 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 research and development arm GPSR Aavishkar, the company is conducting cutting-edge 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.