Subsequent to the successful demonstration of performance and due diligence of its 2G ethanol technology by a US-based Oil & Gas behemoth, Praj Industries announced crossing yet another milestone in the commercialization of its 'enfinity' technology.
'Enfinity', Praj's proprietary and award-winning technology, will be deployed to produce ethanol and other co-products using sugarcane bagasse in what would be USA's first bagasse-based bio-refinery. The bio-refinery is being jointly promoted by Florida based Omega Energy USA, a developer of renewable energy projects, while Louisiana based Lasuca Sugar, a producer of cane sugar, will supply bagasse feedstock.
The promoters have issued a formal letter confirming their interest to engage Praj for developing the design and project program for a cellulosic ethanol bio-refinery in USA. The proposed project in the cane-sugar belt of the country will have the capacity to produce 10-15 million gallons per year (MGPY) of cellulosic ethanol.
Earlier this year US based domain specialists had visited Praj's 2G integrated bio-refinery demonstration plant and Praj Matrix, the R&D center in Pune to study 'enfinity' technology. They acknowledged the facility, plant performance and scope for proliferation.
Speaking about the project, Pramod Chaudhari, Executive Chairman, Praj Industries said, "This development comes on the back of a successful 6o-day robust operation of our 2G demo plant that was monitored and evaluated on various parameters by experts from the Oil and Gas major. In addition to the Louisiana prospect, Praj is already executing four integrated bio-refineries for oil companies in India. We are delighted that 'enfinity', an Indian technology, is gaining global recognition and acceptance from developed markets like the USA. This reinforces Praj's position as a global leader in the advanced bio-economy."
Lasuca and Omega Energy are in the process of completing necessary formalities for the project.
Shares of PRAJ INDUSTRIES LTD. was last trading in BSE at Rs.101.95 as compared to the previous close of Rs. 102.55. The total number of shares traded during the day was 313891 in over 5119 trades.
The stock hit an intraday high of Rs. 106.4 and intraday low of 99.55. The net turnover during the day was Rs. 32698704.