Energy management and automation firm Schneider Electric on Friday said it has made an equity investment in Biofuels Junction. The investment has been made through Schneider Electric Energy Access (SEEAA), Schneider Electric said in a statement.
SEEAA is the Asia-focused clean energy fund, co-funded by Norfund, EDFI MC and Amundi, it added. "Schneider Electric... has made an equity investment in Biofuels Junction. Through this collaboration, Schneider Electric is empowering Biofuels Junction in their business objective of preventing stubble burning of agricultural waste," it said.
The company did not disclose the financial details of the deal. Biofuels Junction is a Mumbai-based clean-energy venture that manufactures and aggregates solid biofuels in the form of briquettes and pellets made from agricultural residues to be used as a replacement for fossil fuels in various industries.
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