CEF Group Secures Euro 38 Million from German Export Finance Bank
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Indian cleantech firm CEF Group has secured Euro 38 million (approximately INR 345 crore) in equity and debt financing from a German Export Finance bank, marking a major milestone in its mission to scale sustainable fuel infrastructure across India.
The funding will primarily support the development of two new compressed biogas (CBG) plants, contributing to the company's broader goal of establishing 22 such facilities nationwide. These plants will process agricultural, agro-industrial, and municipal waste into clean fuel, furthering India's push toward a circular economy.
Founded in 2018, CEF Group operates under the government's SATAT (Sustainable Alternative Towards Affordable Transportation) scheme, a flagship initiative aimed at promoting biogas as a cleaner alternative to conventional fuels. By converting organic waste into energy, the company aligns itself with the twin goals of reducing emissions and supporting rural economic development.
"We are not just building biogas plants—we are empowering rural economies, advancing energy independence, and driving India's transition to a truly circular economy," said Maninder Singh, Founder and CEO of CEF Group.
Currently, the company has three CBG projects in advanced stages of execution: two municipal solid waste-based units in Jammu and Ahmedabad, and a plant in western Uttar Pradesh that processes press mud, a byproduct of sugar production.
The SATAT scheme encourages private sector involvement in biogas development and aims to create new income opportunities in rural areas by monetising organic and farm waste. CEF Group reportedly processes thousands of tonnes of such waste annually.
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