 "Praj, ICT join hands for developing new solutions for process industry")
Industrial biotechnology company Praj Industries (Praj)on Thursday said it has entered into an agreement with the Institute of Chemical Technology (ICT) to jointly promote higher education and research in the areas of process development and development of novel reactor designs for biochemical and catalytic processes.
The Memorandum of Understanding (MoU) comes into effect immediately and will be valid for the next 10 years, that is up to December 31, 2030, Praj said in a statement.
Through this collaboration, Praj and ICT will be jointly undertaking research in process development and development of innovative reactor designs for biochemical and catalytic processes.
Various high potential technology development projects will be jointly undertaken that would be governed by separate project specific MoUs, the statement said.
Praj looks forward to being associated with the project to set up a world class laboratory for process development in the ICT premise in Mumbai within the next three years to facilitate research work, it added.
"We are delighted to partner with ICT to develop an advanced process technology solution. Enhancing process efficiencies, minimizing energy and utility footprint by developing green and clean technology solutions is on the top of our innovation agenda," Praj Industries Executive Chairman Pramod Chaudhari said.
"Given complementary expertise of our organizations, we are confident of developing and deploying a variety of solutions that would benefit not just industry but society as a whole," he added.
This alliance between Praj and ICT will reinforce India's position as a technology leader in the process industry, ICT Mumbai Vice Chancellor A B Pandit added.