Ossus Biorenewables, a green energy start-up based in Bengaluru, has raised $2.4 million in a pre-Series A funding round from Gruhas and Rainmatter Climate.
The raised funds will be utilized to expedite the deployment of Ossus’ OB HydraCel in various industries, such as refining, foods, brewing, chemicals, and pharmaceuticals, with the objective of producing 3-5 tons of green hydrogen per day by the end of this year.
Established in 2017 by Suruchi Rao, Shanta Rao, and Kamar Suhail Basha, Ossus said it is revolutionizing the green hydrogen sector by employing waste carbon from industrial effluents as the initial material for green hydrogen.
The startup claims to have developed an intelligent bioreactor, the OB HydraCel, powered by AI, which extracts carbon from wastewater from process industries and produces green hydrogen gas on-site, on demand.
The global green hydrogen industry is still at an early stage, with numerous foundational technologies being explored. This presents opportunities for innovative developments in this field. Ossus’ key intellectual property is based on the utilization of microorganisms obtained directly from effluents as catalysts for green hydrogen production.
Suruchi Rao, Co-founder, & 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.”
Nikhil Kamath, Co-Founder Zerodha, Gruhas, and True Beacon commented, “As the world moves towards more sustainable and environmentally friendly energy sources, Ossus Biorenewables is at the forefront of providing clean, green energy solutions. We are optimistic about India’s green energy future and look forward to supporting Suruchi and the entire team at Ossus.”
Abhijeet Pai, Co-Founder of Gruhas, added, “Our investment aligns with Gruhas’s commitment to supporting companies that have a positive impact on the environment while also promoting young entrepreneurs. We believe that their green hydrogen solutions from 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.”
Source @Indianstartupnews
