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CEF Group
Cleantech firm converting waste to compressed biogas
About CEF Group
CEF Group is an Indian cleantech company founded by Maninder Singh in 2018, specializing in converting waste into compressed biogas (CBG). The company operates under the Indian government's SATAT (Sustainable Alternative Towards Affordable Transportation) scheme, which aims to promote CBG as a cleaner fuel alternative and create a circular economy.
The firm's business model centers on developing, building, and operating CBG plants that process various forms of waste, including agricultural, agro-industrial, and municipal solid waste (MSW). CEF Group partners with municipalities, which provide land and waste materials, to establish its processing facilities. Its revenue is generated from the sale of the bio-fuels and allied products, such as organic manure, that are produced.
As of August 2025, CEF Group has three projects in advanced stages of execution: two plants that process MSW in Jammu and Ahmedabad, and one that processes press mud from the sugar industry in Western Uttar Pradesh. The company has an ambitious plan to establish 22 CBG plants across India. To finance this expansion, CEF Group secured €38 million (approximately INR 345 crore) in equity and debt financing from a German Export Finance bank in August 2025. This followed a Memorandum of Understanding (MoU) signed with the Uttar Pradesh government in February 2023 for a ₹650 crore investment to build multiple waste processing plants in the state.
Source: Dealroom company dataKnowledge graph
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| DEBT✓Debt | Aug 2025 | $21M | — | KfW | ↗ |
| EARLY VC✓Equity / VC | Aug 2025 | $21M | $84M | KfW | ↗ |
Growth signals
Latest recorded traffic for CEF Group is 1.6K monthly website visits, up 14.3% over the last three months. CEF Group's team grew 20.6% over the past year.
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Investments and acquisitions
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series B and later1 investor entered at this stage
KfW
Other known investors1 additional known investor
Stride Ventures
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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