Mitsui & Shell-backed biomass-to-steam company Punjab Renewable seeks to raise ₹150 crore 

1. Punjab Renewable Energy Systems Pvt Ltd (PRESPL) is a biomass-to-steam company. PRESPL seeks to raise ₹150 crore.
2. The company’s existing shareholders, including NEEV Fund (holding 37% stake), Mitsui of Japan (34%), and Shell (13%), may either dilute their stakes or participate in the new funding round.
3. PRESPL specializes in producing and selling steam generated from biomass. The fundraising aims to expand PRESPL’s operations and enhance its biomass-to-steam production capabilities, contributing to cleaner energy solutions.

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