Climate Fund Managers commits $32.2 million to waste-to-biogas project in Uttar Pradesh

Climate Fund Managers has committed $32.2 million from its European Union-supported Climate Investor Two Construction Equity Fund to a commercial-scale waste-to-biogas facility, Akaia Green Fuels. The facility is located in Uttar Pradesh. The investment will support efforts to curb air pollution and greenhouse gas emissions by converting agricultural waste into compressed biogas (CBG). The project will process about 94,000 tonnes of agricultural and organic waste annually, including paddy straw, press mud from sugar mills and cow dung. This will produce nearly 20 tonnes per day (tpd) of CBG and around 123 tpd of fermented organic manure. Additionally, the facility is expected to prevent over 100,000 tonnes of carbon equivalent emissions annually and improve air quality for an estimated 700,000 people across 640 villages by reducing open-field residue burning once it is operational.