Schneider Electric has made an equity investment in Biofuels Junction through Schneider Electric Energy Access (SEEAA), an Asia-focused clean energy fund co-funded by Norfund, EDFI MC, and Amundi. This collaboration supports Biofuels Junction’s mission to combat agricultural waste burning by converting it into solid biofuels.
Biofuels Junction, a Mumbai-based clean energy venture, manufactures biofuel briquettes and pellets from agricultural residues, offering an eco-friendly alternative to fossil fuels in various industries. In FY23, the company sourced waste from 28,000 farmers, benefiting 140,000 individuals, and preventing 100,000 tons of CO2 emissions and 84.2K tons of agricultural waste.
Ashvin Patil, Biofuels Junction’s co-founder and CEO, expressed enthusiasm about SEEAA and Disruptors Capital becoming new investors, highlighting the funding’s significance in expanding their operations and launching a technology platform for the biofuels value chain.
Gilles Vermot Desroches, Senior Vice President Corporate Citizenship at Schneider Electric and President of SEEAA, emphasised that there is a vast opportunity for solid biofuels in India to replace fossil fuels, benefiting the environment and smallholder farmers.
Deepak Sharma, Zone President – Greater India and CEO & MD of Schneider Electric India, reaffirmed the company’s commitment to India’s net-zero goals. Schneider Electric aims to accelerate sustainability by collaborating with like-minded partners, contributing to India’s journey toward a net-zero future.
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