• Indian electrolyser maker Greenzo Energy has raised ₹130 crore [$13.7 million USD] in a new funding round led by Ashish Kacholia and associates, valuing the company at approximately ₹1,030 crore [$108 million] post-money, bringing total funding across three rounds to around ₹251 crore [$26.4 million].
• Greenzo says it will use the funding to expand its 250MW-per-year alkaline electrolyser manufacturing facility at Sanand, Gujarat, fund R&D, deepen backward integration and accelerate project delivery in India and overseas.

Greenzo Energy India has closed a funding round of ₹130 crore [$13.7 million], with the round led by investor Ashish Kacholia and his associates. Other participants include Alchemy Longterm Venture Fund Series 3, Lashit Sanghvi, Siddharth Sunder Iyer, and Nova Global Opportunity Fund PCC – Touchtone.

The post-money valuation is approximately ₹1,030 crore [$108 million]. Across three rounds, Greenzo has now raised around ₹251 crore [$26.4 million] in total.

250MW Facility at Sanand GIDC

Greenzo has a 250MW-per-year alkaline electrolyser manufacturing facility at Sanand GIDC in Gujarat. Greenzo has dispatched a 1MW alkaline electrolyser to Oswal Group, secured a 3MW electrolyser contract from Jindal Stainless and supplied a 2.5 Nm³/hour system to Engineers India Limited.

Greenzo says it will use the funding to expand electrolyser manufacturing capacity, backward integration into key components, research and development, working capital and faster project delivery for customers in India and internationally.

Source:  FCW Team