Green energy start-up Ossus Biorenewables raises USD 2.4 million from Gruhas and Rainmatter Climate in pre-Series A round

-        Founded in 2017, Ossus is India's only company to produce and supply hydrogen using wastewater.

-        Ossus Biorenewable supplies its signature product OB HydraCel Bioreactor to one of India's largest steel manufacturers.

India, April 5, 2023: Bengaluru based Ossus Biorenewables, a green energy start-up, today announced that it has raised USD 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 startup has developed an AI-powered, intelligent bioreactor, the OB HydraCel which 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 & CEO 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, adds, "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."

Rainmatter Climate, also commented, "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’ innovative efforts align with India's call to indigenously produce 5MMT (million metric tonnes) of green hydrogen each year without importing foreign-made electrolysers before 2025. They currently deploy their signature product to Jharkhand for one of India's largest steel manufacturers.

For more information visit - https://www.ossusbio.com/