Ossus Biorenewables, a startup specializing in green energy, has raised $2.4 million in a pre-Series A funding round co-led by Gruhas and Rainmatter Climate.
According to the startup, the funds raised will be utilized to increase the production capacity of its bioreactors, advance product development, and expand its geographic reach across South Asia, Europe, and the United States, as per reported by The Startup Lab.
Ossus Biorenewables was established in 2017 by Suruchi Rao, Shanta Rao, and Kamar Suhail Basha. The bio-energy company generates decentralized power by leveraging the chemical content of effluents from the oil and gas industry. The company has engineered bioreactors that utilize the waste carbon found in industrial effluents to produce green hydrogen as a raw material.
Speaking on the funding round, Suruchi Rao, Co-founder and CEO of Ossus Biorenewables, said, “We are proud of the trust placed in us by our investors to revolutionize the green hydrogen space. We are currently the only company in India producing and supplying hydrogen at less than a dollar per kilogram using wastewater. With the fresh infusion of funds, we will be poised to exponentially scale up the manufacturing of the HydraCel bioreactors, build enhanced bio-capability with state-of-the-art instrumentation, and most importantly, expand across South Asia, Europe, and the US.”
At present, Ossus Biorenewables collaborates with steel, starch, and energy companies to generate hydrogen gas. However, the green energy startup intends to expand its services to other process industries in the future. Based in Bengaluru, the company has set a target of producing 3-5 tons of green hydrogen per day by the end of this year.
Abhijeet Pai, Co-Founder of Gruhas, expressed his views on the investment in Ossus Biorenewables by stating that it aligns with Gruhas’s objective of endorsing young entrepreneurs who strive to create a positive environmental impact.
Abhijeet later added, “We believe that their green hydrogen solutions from the effluent is a game changer innovation that can disrupt and help transition to a more sustainable future. We are excited to be a part of that journey with Ossus.”
About Ossus Biorenewables
For the purpose of producing biohydrogen, Ossus Biorenewables creates intelligent electroactive microbial communities that can target and selectively degrade the diluted organic content of effluents.