The investment will be utilised by PRESPL for business expansion in underdeveloped states and regions of the country in the area of biomass supply chain to enable safe and sustainable environment. The Fund is contributing $ 5 m via a private equity fund to Punjab Renewable Energy Systems ( PRESPL ) . The biomass value chain management company will utilise the funding to expand its biomass value chain to help ensure a sustainable environment in underdeveloped Indian regions . Collecting , processing and storing materials such as maize - cob , rice straw , cotton - stalk and soya - husk , it then sells biomass to clients as a raw material for energy or converting into biofuels . PRESPL is currently able to manage 1,000 mt per day . Neev Fund said its investment will help provide farmers with additional income and reduce air pollution caused by agricultural waste burning .
The Fund is contributing $ 5 m via a private equity fund to Punjab Renewable Energy Systems ( PRESPL ) . The biomass value chain management company will utilise the funding to expand its biomass value chain to help ensure a sustainable environment in underdeveloped Indian regions . Collecting , processing and storing materials such as maize - cob , rice straw , cotton - stalk and soya - husk , it then sells biomass to clients as a raw material for energy or converting into biofuels . PRESPL is currently able to manage 1,000 mt per day . Neev Fund said its investment will help provide farmers with additional income and reduce air pollution caused by agricultural waste burning .