According to reports, Husk Power Systems raised $5 Mn from an unknown investor.
In May this year the company was planning to raise Series A funds from existing investors and new investors. Acumen Fund, Bamboo Finance (Oasis Capital) and LGT Venture Philanthropy are its current investors.It has also received two rounds of financing from the Shell Foundation and in 2009, as a part of global business plan competition, won the investment from Draper Fisher Jurvetson and Cisco Systems.
Founded in 2008 by Ratnesh Yadav, Gyanesh Pandey, Manoj Sinha and Charles Ransler, Husk Power creates micro power plants that burn agriculture waste in projects around India.
It designs plants that are small – 25 KW to 100 KW in size which burn rice husks and produce electricity.
The company has till now installed over 80 plants in Bihar, providing electricity to over 2 lakh people across 300 villages and hamlets.
In the renewable energy space, NSL Renewable Power was set to raise $100 Mn of equity by end of this fiscal.
Baring and Aditya Birla PE were identified as contenders last month to buy 20% stake in Anu Solar Power.
Another renewable energy player having diversified operations with presence in biomass energy, Shalivahana Green Energy raised around $29 Mn from AMP Capital in June.