 "Praj forms strategic alliance with US-based Gevo for biofuel technology")
Praj Industries Limited has signed a memorandum of understanding (MoU) with the US-based provider of biofuel technology to become a Gevo licensee for producing renewable isobutanol at sugar-based ethanol plants. Under the MoU, Praj will undertake to license up to 250 million gallons of isobutanol capacity for sugar-based ethanol plants over the next ten years. Gevo will market the isobutanol produced by Praj’s sub-licensees. Praj will also contribute process engineering and equipment services to expand isobutanol capacity at Gevo's plant in Luverne, Minnesota (USA), as well as to improve yields and optimise energy consumption at the facility.
Pune-based Praj is a leading player in the ethanol and brewery industries, in addition to the industrial wastewater treatment, pharma, biotech and cosmetic sectors. Praj has core expertise and experience is in process and integration engineering, as well as equipment and system manufacturing, with a strong focus on sustainable development with the help of in-house state-of-the-art R&D facilities to back up process expertise.
“Praj has conducted significant diligence on Gevo's corn starch-based isobutanol technology and we believe in the technology. Isobutanol has a substantial market opportunity given that isobutanol is a high performance biofuel that can solve many of the issues of first generation biofuels. It also enables a true bio-refinery model wherein a number of specialty chemicals and bio-products can be produced using isobutanol as a feedstock. We look forward to creating a new opportunity for 1st generation sugar-based ethanol plant owners, as well as accelerating the use of 2nd generation cellulosic feedstocks to produce isobutanol,” said Pramod Chaudhari, executive chairman of Praj.
Dr Patrick Gruber, Gevo's chief executive officer, added, “We are very pleased to be working with Praj and having them become an important licensee and partner. This new strategic alliance demonstrates the flexibility of Gevo's GIFT technology to convert a wide range of sugar sources into isobutanol. It also continues to validate the interest in licensing our intellectual property portfolio as we look to transition our business to focus more on a licensing model.”
Gevo - a leading renewable technology, chemical products, and next generation biofuels company - has developed proprietary technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstocks. Gevo's strategy is to commercialise biobased alternatives to petroleum-based products to allow for the optimisation of fermentation facilities' assets, with the ultimate goal of maximising cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Luverne (USA).
Pune-based Praj is a leading player in the ethanol and brewery industries, in addition to the industrial wastewater treatment, pharma, biotech and cosmetic sectors. Praj has core expertise and experience is in process and integration engineering, as well as equipment and system manufacturing, with a strong focus on sustainable development with the help of in-house state-of-the-art R&D facilities to back up process expertise.
“Praj has conducted significant diligence on Gevo's corn starch-based isobutanol technology and we believe in the technology. Isobutanol has a substantial market opportunity given that isobutanol is a high performance biofuel that can solve many of the issues of first generation biofuels. It also enables a true bio-refinery model wherein a number of specialty chemicals and bio-products can be produced using isobutanol as a feedstock. We look forward to creating a new opportunity for 1st generation sugar-based ethanol plant owners, as well as accelerating the use of 2nd generation cellulosic feedstocks to produce isobutanol,” said Pramod Chaudhari, executive chairman of Praj.
Dr Patrick Gruber, Gevo's chief executive officer, added, “We are very pleased to be working with Praj and having them become an important licensee and partner. This new strategic alliance demonstrates the flexibility of Gevo's GIFT technology to convert a wide range of sugar sources into isobutanol. It also continues to validate the interest in licensing our intellectual property portfolio as we look to transition our business to focus more on a licensing model.”
Gevo - a leading renewable technology, chemical products, and next generation biofuels company - has developed proprietary technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstocks. Gevo's strategy is to commercialise biobased alternatives to petroleum-based products to allow for the optimisation of fermentation facilities' assets, with the ultimate goal of maximising cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Luverne (USA).