Praj Industries would provide Engineering Procurement and Construction (EPC) services to third parties utilizing a process design package created by the firm
Praj Industries, an India-based process and project engineering firm, has inked a Construction License Agreement (CLA) with US-headquartered Gevo, Inc to commercialize the technology to manufacture lsobutanol utilizing sugary-based feedstocks such as molasses, syrup, and juice.
As per the agreement, Praj Industries would provide Engineering Procurement and Construction (EPC) services to third parties utilizing a process design package created by the firm. Reportedly, this process design package utilizes the proprietary lsobutanol biocatalyst of Gevo on sugary-based feedstock.
According to a report by Business Standard
, shares of Praj Industries rose 8 percent to INR 149 on the Bombay Stock Exchange in the early morning trade on Wednesday.
Executive Chairman of Praj Industries, Pramod Chaudhari was reportedly quoted saying that the addition of Isobutanol technology to the firm’s diverse product portfolio is a step in its endeavor toward smart biorefineries which facilitate sustainable decarbonization. The technology can be offered both as a Greenfield plant or as a ‘bolt-on’ to an existing ethanol facility. The company values its partnership with Gevo and believes that the technology would help the aviation sector fulfill their obligation of reducing GHG emission, Chaudhari further added.
Reportedly, the new CLA would enable Praj to leverage its extensive consumer base to identify those interested in licensing Gevo’s technology to manufacture Isobutanol using the Sugary-based Feedstock. The agreement also provides Praj with access to markets outside of North America such as South America, Australia, Southeast Asia, India, and parts of Europe.
Praj Industries noted in a filing that lsobutanol derived from the said proprietary process is high energy renewable intermediate product which finds application in Aviation and Racing cars. To that effect, the company has also inked an MoU with Gevo, Inc. to commercialize its renewable hydrocarbon products. These products include Gevo’s renewable isooctane – derived from Gevos renewable lsobutanol – and renewable alcohol-to-jet fuel.