Shri. Dharmendra Pradhan, Hon. Union Minister of Petroleum & Natural Gas (MoPNG) and Steel, GOI, today laid the foundation stone for the first pressmud to Compressed Biagas (CBG) project in Karnataka. Praj Industries will deploy its RenGas™ technology for the project being set up by Leafiniti Bioenergy. The project will use 200 TPD pressmud (sugar plant waste) from the adjacent sugar plant to produce 10TPD CBG. The plant will also produce high quality organic manure certified by Natural Organic Certification Agency (NOCA) as a co-product.
The compressed biogas produced in this plant will be utilised by IOCL under the Sustainable Alternative Towards Affordable Transportation (SAT AT) scheme. The project is scheduled to be completed in the next six months.
In addition to this development, Praj and Leafiniti have signed a Memorandum of Understanding (MoU) for setting up nine more CBG projects in southern India over the next three years. The cumulative 10 projects including the one underway will have a total capacity of 100TPD CBG production and will be completed over the next three years.
CBG is a renewable biofuel in gaseous form, derived by processing bio-based feedstock such as biomass, agricultural residue, sugarcane press mud, cattle dung, etc.
These developments are in line with the objectives of the MOU that Praj signed with MoPNG on 20th November 2020 as a preferred CBG technology solutions provider, facilitating the construction of CBG plants as part of the SAT AT initiative. Launched in October 2018 by the MoPNG ministry, SAT AT aims to achieve production of 15 MMT of CBG from 5000 plants by 2023. An investment of over 2 lakh crore is expected to be pumped into setting up these plants.
Speaking at the Foundation Stone Laying Ceremony, Dr Pramod Chaudhari, Executive Chairman, of Praj Industries, said, "We are delighted to partner with Leafiniti Bioenergy to provide technology and plants for their CBG projects. CBG is an important element of our Bio-Mobility™ platform that offers technology solution to produce carbon neutral transportation fuel from bio-based feedstock. Praj is committed to provide innovative solutions to prospective developers so as to create a positive impact on environment and society. The setting up of CBG plants would not only strengthen the rural economy but also align with the goals of Atma Nirbhar Bharat Abhiyan."
Wishing the project every success, Mr. Murugesh Nirani, CMD, Nirani Group, said, "Praj is a leading technology provider in the bioeconomy space and we are happy to set up this project that heralds a new wave in bioenergy. This project will help reduce GHG emissions and will work as a catalyst for the local rural community. It will provide direct and indirect employment and as a cleaner, greener fuel, will serve as an alternative to fossil fuels like petrol, LPG, diesel, furnace oil, etc."
Mr. Subhransu Biswal, Director, Leafiniti Bioenergy, said, "We at Leafiniti are committed to take tangible actions which respect our environment and create a sustainable energy ecosystem for the world."
Praj's latest CBG technology has multi-feed flexibility, round the year biogas production, best in class yields, more efficient degradation and gas upgradation, and low utility footprint. Earlier this month Praj unveiled its unique CBG technology by way of inaugurating its demonstration facility to produce CBG from multi-feedstock biological resources.
Shares of PRAJ INDUSTRIES LTD. was last trading in BSE at Rs.86.95 as compared to the previous close of Rs. 84.3. The total number of shares traded during the day was 253409 in over 2156 trades.
The stock hit an intraday high of Rs. 88.05 and intraday low of 83.8. The net turnover during the day was Rs. 22056658.