Mumbai: Waste-to-energy company GPS Renewables has secured an investment of approximately ₹40–45 crore from PixelSky Capital, a secondaries-focused investment fund backed by boutique investment bank IndigoEdge and entrepreneur Hitesh Ahuja.
The investment is expected to support GPS Renewables’ expansion in the rapidly growing compressed biogas (CBG) sector, which is emerging as a key component of India’s clean energy and circular economy strategy.
The funding comes at a time when India is actively promoting alternative fuels, waste-to-energy technologies, and sustainable solutions to reduce dependence on imported fossil fuels.
Driving India’s Compressed Biogas Growth
GPS Renewables specializes in developing compressed biogas plants that convert agricultural residue and organic waste into renewable gas suitable for injection into existing gas distribution networks.
The company’s technology addresses two major challenges simultaneously:
- Managing agricultural and organic waste efficiently
- Producing clean and renewable energy
By converting crop residue into compressed biogas, GPS Renewables contributes to reducing stubble burning, lowering greenhouse gas emissions, and supporting India’s energy security goals.
The company’s business model aligns closely with government initiatives aimed at increasing domestic production of renewable fuels and promoting sustainable waste management practices.
Founded by IIM Bangalore Alumni
GPS Renewables was founded by Mainak Chakraborty and Sreekrishna Sankar, both alumni of the Indian Institute of Management Bangalore (IIM-B).
Over the years, the company has emerged as one of India’s leading waste-to-energy and biofuel infrastructure players.
The company is already backed by Neev Fund, a private equity fund supported by the State Bank of India (SBI).
According to industry reports, Neev Fund holds a significant stake in the company, while the founders continue to retain a substantial ownership position.
Strong Financial Growth and Expanding Order Book
GPS Renewables has reported strong business momentum as demand for renewable energy infrastructure continues to grow.
According to media reports:
- FY26 revenue exceeded ₹1,000 crore
- Current order book is valued at more than ₹4,000 crore
The company has also outlined ambitious long-term growth targets.
Internally, GPS Renewables is reportedly targeting:
- Revenue of ₹7,000 crore by FY30
- EBITDA of ₹500 crore by FY30
These projections reflect growing opportunities in the compressed biogas, bioenergy, and waste-to-energy sectors.
Rising Investor Interest in Clean Energy Infrastructure
The latest investment highlights increasing investor confidence in climate-focused infrastructure businesses.
Compressed biogas is gaining attention from investors, policymakers, and energy companies due to its potential to:
- Reduce carbon emissions
- Support energy independence
- Create value from agricultural waste
- Strengthen rural economies
- Contribute to India’s net-zero ambitions
As governments and industries accelerate decarbonization efforts, companies operating in renewable fuels and circular economy solutions are attracting greater investment interest.
PixelSky Capital Bets on High-Growth Companies
PixelSky Capital is a secondaries-focused investment platform targeting high-growth companies with strong public market potential.
The fund is reportedly working towards the final close of its ₹400 crore Fund-I and is focused on businesses valued between $300 million and $1.5 billion.
Its investor base includes:
- Family offices
- High-net-worth individuals (HNIs)
- Startup founders
- Business leaders
The fund has previously invested in well-known startups such as Purplle and Porter, reflecting its focus on scalable growth-stage businesses.
Industry reports indicate that PixelSky Capital is particularly interested in companies that could potentially pursue public listings by 2027.
Compressed Biogas Emerging as a Key Energy Opportunity
India’s compressed biogas market is expected to witness substantial growth over the coming decade as the country increases investments in renewable energy and sustainable fuel infrastructure.
Government initiatives such as the Sustainable Alternative Towards Affordable Transportation (SATAT) programme have encouraged the development of CBG plants across the country.
Compressed biogas offers several advantages:
- Lower carbon emissions compared to conventional fuels
- Utilization of agricultural and organic waste
- Reduced dependence on imported natural gas
- Support for circular economy objectives
- Improved rural income generation opportunities
Companies like GPS Renewables are playing an important role in building the infrastructure needed to scale this sector.
Outlook
With fresh capital, a growing order book, and increasing demand for renewable fuel solutions, GPS Renewables is well-positioned to capitalize on India’s transition toward cleaner energy systems.
The latest investment from PixelSky Capital strengthens the company’s ability to expand its compressed biogas operations while supporting broader efforts to develop sustainable waste-to-energy infrastructure.
As India continues to prioritize energy security, decarbonization, and circular economy solutions, the compressed biogas sector is expected to become an increasingly important pillar of the country’s clean energy landscape.
