Greenjoules

About Greenjoules

Greenjoules Private Limited is a deep-tech biorefinery converting agricultural and industrial waste into second-generation biofuels. Founded in 2018 by a team including Viraraghavan Sankaran, Radhika Viraraghavan, Sethunath Ramaswamy, and V S Shridhar, the company operates a commercial plant in Chakan, Pune, with two new greenfield facilities under construction. The founders leverage extensive corporate backgrounds to address India's energy security and waste management challenges. The firm has developed a proprietary thermochemical process that converts non-food biomass, such as paddy straw and sugarcane residue, into 'drop-in' fuels. This indigenously developed technology involves thermal cracking and catalytic upgrading to produce renewable diesel and bionaphtha that are chemically identical to their fossil fuel counterparts, meeting standards like BIS 1460 without requiring engine or infrastructure modifications. This process helps mitigate open-field crop burning and its associated air pollution. By-products like biochar, used for soil enrichment, contribute to a zero hazardous waste operating model. Greenjoules serves enterprise clients across the chemical, consumer goods, and technology sectors, providing them with ISCC Biocircular certified fuels that offer a lower carbon footprint. The company is also engaged in R&D to produce sustainable aviation fuel (SAF), green hydrogen, and biomethane, positioning itself in higher-value renewable energy markets. The business model focuses on B2B sales of its primary product, 'Abhilasha Liquid Fuel,' to large industrial users with mandates to adopt environmentally friendly energy sources. The company has secured significant funding to support its expansion. A 2021 round led by Blue Ashva Capital raised $4.5 million in a mix of equity and debt. More recently, Greenjoules raised approximately $6.5 million in a Series B round led by Amazon's investment arm, with participation from Singularity Strategic Autonomy Fund, to scale operations and R&D. The Technology Development Board (TDB) of India's Department of Science & Technology (DST) has also provided support for the commercialization of its technology.