Godavari Biorefineries raises $14 million to expand ethanol and specialty chemicals

In India, Godavari Biorefineries has raised more than $14 million to boost ethanol production from its current 70 million liters annually while also adding specialty chemical production capacity. Funds will also go towards R&D. The capital injection was sourced from PE fund Mandala Capital who were impressed by the company’s evolution from a traditional sugarcane business to an innovative biorefinery.