Mitsui invests $4.1 million in biomass supply chain company PRESPL

Mitsui & Co., Ltd. has announced an investment of $4.1 million in Punjab Renewable Energy Systems Private Limited (PRESPL), a biomass supply chain management company in India.

PRESPL operates in the domain of collection, storage and processing of agricultural residues. It provides operational, maintenance and other technical services to the industry, and bio-mass solutions to farmers. PRESPL is also involved in the production of biomass briquettes and pellets which caters to the growing demand for biomass fuel in India’s bioenergy industry.

Mitsui is a global trading and investment company headquartered at Tokyo. Its business spans across 65 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania. In India, the company has a diverse portfolio of investments including sectors such as steel, power infrastructure, chemicals, logistics, motorcycles, healthcare, pharmaceuticals and fast moving consumer goods, among others.

The practice of burning agricultural crop residues and straw stubble has been a major contributor to air pollution in India in the recent times. The investment in PRESPL may contribute in the effective utilisation of bio-mass agricultural residues as a fuel-stock in the bioenergy industry. This is expected to significantly reduce air pollution and carbon emissions in India. The investment is also expected to create the needed production capacity for India’s rapidly expanding bio-energy industry.

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