Axens and Praj Industries Ltd sign MoU for Sustainable Aviation Fuel projects in India

Axens and Praj have signed a Memorandum of Understanding to work jointly on projects in India for production of Sustainable Aviation Fuel (SAF) from low carbon alcohols through Alcohol-to-Jet (ATJ) pathway.

India is among top five aviation markets globally, and robust growth is expected over the next two decades. In its pursuit of Net Zero target, Government of India is mulling over introducing SAF mandates to decarbonize the aviation sector.

The ASTM approved ATJ pathway (ATJ-SPK) involving conversion of low-carbon ethanol or low-carbon isobutanol into SAF will play a major role in meeting India's requirement of SAF production.

Praj brings to the table proven expertise in modularized solutions, integration services for complete project and technology for production of low carbon isobutanol and ethanol from conventional bio-sourced feedstock.

Axens will provide its JetanolTM Alcohol-To-Jet technologies (dehydration, olefin oligomerization and hydrogenation steps), catalyst solution, equipment and services (training, technical assistance) for conversion of alcohols to SAF.

Axens and Praj will continue to individually offer technology for production of low carbon ethanol from cellulosic biomass in India and abroad.

Mr. Shishir Joshipura, CEO & MD of Praj said: "As a sustainable climate action company we are involved in accelerating energy transition through bioeconomy. Partnership with Axens is yet another step in this regard. With complementary strengths across the value chain of SAF production, this is a definitive step towards cleaner skies in India."

Xavier Decoodt, Vice President - Gasoline and ATJ product line at Axens said: "As a technology provider, Axens has been deeply involved in India's journey toward cleaner fuels for more than three decades and we are very excited to continue that work on SAF projects with Praj as new partner."

Shares of Praj Industries Limited was last trading in BSE at Rs. 351.60 as compared to the previous close of Rs. 354.05. The total number of shares traded during the day was 117610 in over 3414 trades.

The stock hit an intraday high of Rs. 360.95 and intraday low of 346.00. The net turnover during the day was Rs. 41357673.00.

Source : Equity Bulls

Keywords

PrajIndustries INE074A01025 Axens MoU SustainableAviationFuel