Clean energy technology and manufacturing company Greenzo Energy India has secured ₹2.51 billion (~$26.48 million) cumulatively across three investment rounds, led by private and institutional investors.

The company plans to deploy the fresh capital to expand its electrolyzer manufacturing capacity, strengthen backward integration, advance research and development, support working capital requirements, and accelerate project execution across domestic and international markets.

The cumulative funding includes a ₹1.30 billion (~$13.72 million) round led by investor Ashish Kacholia and his associates, valuing the green hydrogen platform at approximately ₹10.30 billion (~$108.68 million) post-money.

The other institutional and private investors who participated in the funding rounds were Alchemy Longterm Venture Fund Series 3, Lashit Sanghvi, Siddharth Sunder Iyer, and Nova Global Opportunity Fund PCC-Touchtone.

The company is focused on alkaline water electrolyzer manufacturing, balance of plant (BoP) systems, green hydrogen solutions, and renewable energy-focused engineering, procurement, and construction.

The company provides capabilities spanning hydrogen technology, project engineering, commissioning, and operations and maintenance, with a focus on developing indigenous solutions for industrial decarbonization and the emerging green hydrogen economy.

Greenzo Energy’s 250 MW-per-annum electrolyzer manufacturing facility in Ahmedabad, Gujarat, produces localized alkaline water electrolyzers and integrated BoP systems and provides EPC, operation, and maintenance services.

Driven by government incentives and industrial demand, India is stepping up green hydrogen production and adoption.

In 2023, the Ministry of New and Renewable Energy launched the National Green Hydrogen Mission with an outlay of ₹197.44 billion (~$2.25 billion), aiming to make India a global hub for green hydrogen production, use, and export.

States like Gujarat have also ramped up efforts to increase green hydrogen production through regulatory guidelines. Under its Green Hydrogen Policy 2025, Gujarat is aiming to achieve a production capacity of 3 million metric tons per annum by 2035.

Its key objectives also include achieving 30 GW of electrolyzer capacity and 75 GW of renewable energy capacity. The state aims to facilitate investments of nearly ₹5 trillion (~$55.60 billion) across the green hydrogen and renewable energy sectors.