EU taps into Pune-based Praj’s biofuel global potential
The Indian biofuel industry is expected to receive a huge boost after a high-level European delegation, comprising senior executives from the bio-industrial sector, visited Praj Industries Limited’s second generation demonstration bio-refinery near Pune on Friday to explore future partnerships and bilateral trade relations between the company and the European Union (EU).
Pramod Chaudhari, executive chairman of Praj Industries Limited, said that the delegation, co-led by Kyriakos Maniatis, principal administrator, directorate general for energy for European Commission, took keen interest in the plant. Maniatis said that the biofuel technology indigenously developed by Praj has immense potential in the global market, especially in the EU.
The delegation also participated in the EU-India Conference on Advanced Biofuels held in New Delhi between March 6 and March 9. Maniatis said that he was impressed by the high standard of biofuel technology developed by the company and said there was a huge scope for business to business ties between EU and Praj.
Chaudhari said that the company has vast global experience in scaling up first generation technology, which gives it an edge in taking the second generation technology overseas.
"The visit by EU delegation is testimony of the increasing traction for Praj technology in the European biofuel industry. We are in the initial stage of discussion with interested parties from Europe and remain confident about our ability to emulate Praj's success in the continent with our second generation technology,” he said.
Praj's demonstration plant is also India's first bio-refinery capable of producing ethanol from a variety of agricultural residues and serves as a technology platform to develop renewable fuels and chemicals. Indian oil marketing companies are preparing to set up twelve second generation bio-refineries in India. Praj has signed a memorandum of understandings (MoU) with Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation (BPCL) in this regard.