A collaborative venture between Indian Oil Corporation and industrial biotech company Praj Industries will create sustainable aviation fuel (SAF). The use of ATJ gasoline will reduce aircraft emissions.
The IOC board accepted the joint venture, according to PramodChaudhari, founder and chairman of Praj Industries, and other approvals are anticipated by year’s end. In order to examine options for accelerating the production of compressed biogas, 1G, 2G, and ATJ fuel, Praj and the IOC inked anMoU last year.
ShrikantMadhavVaidya, chairman of Indian Oil Corporation, stated that they are open to a second SAF joint venture with Praj and are collaborating with US cleantech company LanzaJet to establish the first SAF facility in Panipat.
He said that robust SAF technology is needed, and that’s where Praj can make a difference.
Vaidya said he expects airlines to invest and commit to using SAF. He recently met with airline CEOs, who offered to invest in equity.
