Praj Industries collaborates with Novozymes on advanced biofuels

Praj Industries, a leading company in biofuel technology and plants, and Novozymes, the leading enzyme provider to the biofuel industry, have decided to collaborate on advanced biofuels. Together, Praj and Novozymes will optimize the enzymatic hydrolysis processes and the use of enzymes in the production of advanced biofuel.

India and other countries that have been working to develop and to deploy biofuel will see clear benefits, from job creation in rural areas to improved energy security. The world will benefit from significantly reduced CO2 emission in the transport sector, which today is the second largest and fastest growing source of CO2 emission.

Praj Industries will benefit from the focus on ethanol-based biofuel, for which, it has entered into a collaboration with Novozymes. Praj and Ardent Energy Group Ethiopia have signed an MoU, which is an agreement based on EU principles on bio-diesel. The company is planning to attain 20% bio-diesel for various transportation as well as consumption.

The entities will start operation in April, 2010. In 8-10 years, it will have commercial quality jatropha, which is an input for fabrication of bio-diesel. Praj and AEG are planning to use 15,000 hectares land in Ethiopia.

The stock is trading up over 3%. Praj Industries touched an intra day high of Rs 100.25 and an intra day low of Rs 95 and at 14:42 PM, the share was quoting at Rs 99.30, up Rs 3.35, or 3.49%, trading with volumes of 2,466,470 shares, compared to its 5-day average of 1,280,629 shares, an increase of 92.60%. Yesterday the share closed up 0.95% or Rs 0.90 at Rs 95.95.

No related posts.