- Cumulative capital raised across three rounds reaches ₹251 crore ($26.4M), with the latest ₹130 crore round valuing the platform at ₹1,030 crore ($108M) post-money.
- Round led by veteran investor Ashish Kacholia, alongside institutional and private investors including Alchemy Longterm Venture Fund Series 3, Lashit Sanghvi, Siddharth Sunder Iyer, and Nova Global Opportunity Fund PCC – Touchtone.
- Capital will fund indigenous electrolyser manufacturing capacity expansion, R&D, working capital, and project execution across domestic and international markets.
Ahmedabad (Gujarat, India), 19 October 2026: Greenzo Energy India Limited, an Indian clean-energy technology and manufacturing company, has secured approximately ₹251 crore ($26.4 million) in cumulative capital across three investment rounds. The latest ₹130-crore ($13.7 million) funding round was led by veteran investor Ashish Kacholia and his associates, valuing the green-hydrogen platform at approximately ₹1,030 crore ($108 million) post-money.
Alongside Ashish Kacholia, the funding round saw participation from prominent institutional and private investors, including Alchemy Longterm Venture Fund Series 3, Lashit Sanghvi, Siddharth Sunder Iyer, and Nova Global Opportunity Fund PCC – Touchtone. CA Prince Harjai, Partner at PARV And Co., acted as the exclusive financial advisor to Greenzo Energy for the transaction.
Greenzo Energy plans to deploy the fresh capital to expand indigenous electrolyser manufacturing capacity, strengthen backward integration, advance research and development, support working capital requirements, and accelerate project execution across domestic and international markets.
Sandeep Agarwal, Founder and Managing Director of Greenzo Energy India Limited, said, “This ₹251-crore total capital raise across rounds, culminating in the latest ₹130-crore funding, reflects strong investor trust in Greenzo’s technology roadmap and execution capabilities. India’s policy support for green hydrogen is helping lay the foundation for a domestic industry. Our focus is to deploy these funds towards building indigenous manufacturing capabilities, advancing technology and delivering integrated solutions for Indian and international markets.”
Commenting on the strategic rationale for the investment, lead investor Ashish Kacholia, along with Lashit Sanghvi of Alchemy Longterm Venture Fund, jointly stated, “Our investment underlines our conviction in Greenzo Energy’s potential to lead India’s clean energy transition as green hydrogen becomes the cornerstone of global industrial decarbonisation. Greenzo Energy has demonstrated exceptional technical expertise, indigenous electrolyser manufacturing capabilities, and a clear execution vision to build a globally competitive clean-energy platform.”
A primary growth driver for the company is its 250 MW-per-annum electrolyser manufacturing facility at Sanand GIDC in Ahmedabad, Gujarat. The facility produces localized alkaline water electrolysers, integrated Balance of Plant (BoP) systems, and provides EPC and O&M services. Greenzo Energy has already executed megawatt-scale green-hydrogen installations for major enterprises, including Engineers India Limited (EIL), Oswal Energies, and Jindal Stainless Limited (JSL).
About Greenzo Energy India Limited
Greenzo Energy India Limited is an Indian clean-energy technology company focused on alkaline water electrolyser manufacturing, Balance of Plant systems, green hydrogen solutions, and renewable-energy EPC. The company provides capabilities spanning hydrogen technology, project engineering, commissioning, and operations and maintenance, with a focus on developing indigenous solutions for industrial decarbonisation and the emerging green hydrogen economy.
Greenzo Energy – Official Company Website https://greenzoenergyindia.com/
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