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Ossus Biorenewables raises $2.4 million from Gruhas, Rainmatter Climate in pre-Series A round

The green energy start-up will use the funding to accelerate the deployment of Ossus' OB HydraCel across various sectors and produce three to five tons of green hydrogen daily before the year-end

Ossus Biorenewables raises $2.4 million from Gruhas, Rainmatter Climate in pre-Series A round
OSSUS Biorenewables' co-founders Suruchi Rao, Shanta Rao, and Kamar Suhail Basha
POSTED ON April 06, 2023 12:39 PM

Bengaluru based Ossus Biorenewables, a green energy start-up, has raised $2.4 million in a pre-Series A round from Gruhas and Rainmatter Climate. The funding raised will be used to accelerate the deployment of Ossus' OB HydraCel across other sectors, including refining, foods, brewing, chemicals, and pharmaceutical industries, and produce 3-5 tons of green hydrogen each day before the end of the year. 

Founded in 2017 by Suruchi Rao, Shanta Rao, and Kamar Suhail Basha, Ossus is disrupting the green hydrogen space by using waste carbon in industrial effluents as the starting material for green hydrogen. The start-up has developed an AI-powered bioreactor, the OB HydraCel, that accesses carbon from wastewater from process industries and supplies them with on-demand, on-site green hydrogen gas. 

Green hydrogen is still a nascent sector globally, with many foundational technologies being experimented with. This opens doors to new opportunities for innovation in this space. Ossus' core IP finds roots in using microorganisms sourced directly from effluents as catalysts for green hydrogen production. 

Speaking on receiving the investment, 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."

Nikhil Kamath, co-founder of 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, the co-founder of Gruhas, added, "Our investment aligns with Gruhas's commitment to supporting companies that positively impact the environment while promoting young entrepreneurs. We believe their green hydrogen solutions from effluents is a game changer innovation that can disrupt and help transition to a more sustainable future." 

In a statement, Rainmatter Climate said, "Emissions from fossil fuel are the biggest source of greenhouse gases. If we stand a realistic chance of transitioning to a greener tomorrow, we need multiple green energy sources, and hydrogen is a key piece of the puzzle. We are excited to partner with Ossus in this journey of mainstreaming hydrogen power in India." 

With India's ambitions to become a global green hydrogen hub, its G20 presidency, and an outlay of Rs 19,700 crores announced as part of the National Green Hydrogen Mission, the time is ripe for the country's transition to a low carbon intensity economy with green hydrogen as a fossil fuel replacement. Ossus' efforts align with India's call to indigenously produce 5MMT (million metric tonnes) of green hydrogen yearly without importing foreign-made electrolyzers before 2025. They currently deploy their signature product to Jharkhand for one of India's largest steel manufacturers.

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