Up to $8.5 million in Series-B funding on the dock for Indian biomass supplier to 2G plants

In India, the Financial Express reports that the Neev Fund, funded by the Bank of India and the UK’s Department for International Development, is investing $5 million of Series-B funding in Punjab Renewable Energy Systems (Prespl) who expects to close deals this month with Hindustan Petroleum Corp Ltd and Bharat Petroleum Corporation Ltd to supply the biomass for their cellulosic ethanol plants. Another company is also set to invest $3.5 million in Series-B funding soon.

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