Greenjoules Biofuels scores $4.5M Series A funding from Blue Ashva Capital

In India, Greenjoules Pvt. Ltd., a Pune-based green energy technology company, has raised its Series A round of $4.5 million from Blue Ashva Capital through its Blue Ashva Sampada Fund. The funds raised are a combination of equity and debt and will be utilized to setup commercial scale waste to energy plants and invest into new R&D initiatives.

Greenjoules Biofuels uses non-food and non-feed wastes as feedstock to manufacture Biofuels. The fuel is manufactured to the BIS1460 Standards that Petroleum Diesel follows. It can be used without any modification with the current Diesel engines, Gensets or Boilers in use. This makes Greenjoules Biofuels a direct replacement for Petroleum Diesel. The company is currently serving several large enterprise customers from its biorefinery in Chakan, Pune. It now plans to significantly scale up production by setting up a large facility near Pune to cater to the increasing demand of green diesel.