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Organic Recycling Systems Ltd (ORSL), along with IIT Bombay and IIT Kharagpur, has been awarded a research grant under the DBT–BIRAC Joint Call on Carbon Capture and Utilization (CCU). ORSL becomes the first Indian company to receive this grant in the CCU domain under the BioE3 Policy. The 24-month project, with a total cost of INR 187.17 lakh, will be implemented at ORSL's Research Innovation Centre in Navi Mumbai and aims to convert CO₂ from biogas plants into high-value products like bio-alcohols, specialty chemicals, nutritional supplements, and industrial additives. The technology uses algal cultivation and MXene-based photocatalytic conversion, and could open new revenue streams for Compressed Biogas (CBG) plants that currently vent or flare purified CO₂. The project is expected to run for 24 months and positions ORSL as a leader in India's emerging carbon utilization space.
This is a positive development for shareholders as it validates ORSL's R&D capabilities, brings in non-dilutive grant funding, and opens a potential new revenue stream by monetizing CO₂ waste from CBG plants. While the grant amount is modest, the strategic value of being first-mover in India's CCU space and gaining access to IIT research expertise could enhance long-term valuation.