DATE OF ANNOUNCEMENT: 5 April 2023
COMPANY'S LEGAL NAME: Ossus Biorenewables Private Limited.
Ossus Biorenewables is founded by Nikhil Kamath(Previous Stockbroking firm Zerodha's cofounder) with Abhijeet Pai ( previous Gruhas, Rainmatter Climate) and Suruchi Rao,
VALUATION : Not disclosed
Ossus Biorenewables has several investors including Gruhas Proptech and Rainmatter Climate.
- Ossus Biorenewables is a startup which uses waste carbon in industrial effluents as the starting material for green hydrogen.
- It has developed an AI-powered, intelligent bioreactor the OB HydraCel which accesses carbon from wastewater in process industries and supplies them with on-demand, on-site green hydrogen gas.
Suruchi Rao, commented about the latest funding and said “"With the fresh infusion of funds, we will be able to exponentially scale manufacturing of HydraCel bioreactors, build enhanced bio-capability with state- of-the-art instrumentation, and expand across South Asia, Europe, and the US."
Kamath commented about the latest funding and said “ "As the world moves towards more sustainable and environmentally-friendly energy sources, Ossus Biorenewables is at the forefront of providing clean, green energy solutions. We are optimistic about India's green energy future and look forward to supporting Suruchi and the entire team at Ossus,"
PURPOSE OF FUNDING:
The latest funding will be used to accelerate the deployment of Ossus' OB HydraCela bioreactor for on-site hydrogen gas.
Its competitors include Lhyfe, Enapter, ITM Power, BayoTech.