Praj Industries and Indian Oil Corporation (IOC) have signed a memorandum of understanding to explore opportunities in the production of aviation fuel, bio-fuels, ethanol of different grades as well as compressed bio-gas. This will help to accelerate India’s bio-fuel industry towards cleaner and greener sources of energy
India is determined towards the economic growth trajectory, so is the Indian Aviation industry. This makes the aviation industry a major source of green house gas emissions. The MoU between these companies will promote the production capacity and the use of Alcohol-to-Jet (ATJ) fuel production in India. The use of ATJ fuels is also in congruence with the International Air Transport Association (IATA) mandates, regarding the production of cleaner fuels.
As per the MoU, Praj Industries and IndianOil will also work together on setting up Biofuel production facilities, including compresses bio-gas, biodiesel and ethanol. Praj Industries is already helping IOC in setting up a second generation ethanol plant at Panipat in Haryana, as well as a waste-water treatment plant at IOC’c Dumad petrochemical complex.
Shrikant Madhav Vaidya, Chairman of IndianOil Corporation Limited, said, “Our collaboration with Praj will increase the share of biofuels in India’s energy sector. Alcohol-to-Jet fuels pose a great opportunity to fall in with CORSIA (Carbon Ofsetting and Reduction Scheme for International Aviation) guidelines to significantly reduce greenhouse emissions in the aviation sector. This MoU is in line with the ‘Panchamrit’ agenda unveiled by Prime Minister Narendra Modi at the COP26 Glasgow Summit, to overcome climate change, global warming and their effects.”
“We are delighted to collaborate with IndianOil to increase the share of bioduels as well as circumscribe socio-economic-environmental aspects related to the nation’s growth. Biofuels are playing a vital role in the sustainable climate change, in a world where drive towards low carbon footprint is an obligation.” Dr Pramod Chaudhari, Founder and Chairman, Praj Industries, added.
This collaboration between India’s largest energy corporation and India’s leading biotech company shall uplift the bio-economy and overall growth of India.
