Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Praj and ARAI in alliance to drive green fuel technologies for transportation

Posted On: 2020-07-29 04:39:21 (Time Zone: Arizona, USA)


Praj Industries (Praj) and Automotive Research Association of India (ARAI) have entered into MoU to jointly drive application development of advanced biofuels that will find usage in industry and transportation. Biofuels developed for the mobility sector will have a positive impact on environment by way of reduced carbon footprint and improved tail pipe emissions.

Biofuels are derived by processing bio-based feedstock such as Agri residue, Molasses, Cane syrup etc. As a renewable transportation fuel in gaseous as well as liquid form, Biofuels provide an energy source that complements fossil fuels such as gasoline, diesel and aviation fuels. Since biobased feedstock is a captive source, biofuels facilitate energy self-reliance while helping conserve the environment.

Through this collaboration, Praj and ARAI will jointly address technologies to propagate use of biofuels in variety of applications including usage in internal combustion engines (ICE) in the transportation sector. As a leading player in the global bio economy, Praj brings to the table its expertise of over three decades in developing and deploying biofuel technology solutions through its TEMPO business model1. On the other hand, as an R&D major, ARAI brings its vast experience in the field of alternative fuels, green and sustainable mobility, to the association. ARAI is working closely with OHi, energy vertical of Niti Aayog, MoPNG and MoRTH for development of regulations and demonstration of technology competence in various alternate fuels spectrum like CNG, LPG, LNG, HCNG, dual fuel technology, Bio-CNG, Hydrogen, Ethanol, DME and Methanol. With complementary strengths in technology and application, Praj and ARAI will work together to test and commercialise newer fuels with improved efficiencies.

The transportation sector is the single largest consumer of imported crude oil and natural gas for petroleum products. With a growing population of vehicles across all modes of transport (surface, air and marine), it is also the third largest source of GHG emissions after power sector & industry as per world energy statistics data. As a signatory to Paris summit to reduce GHG emissions by 30-35%, India has to redefine its transportation fuel mix. Advanced biofuels technology applications that will be developed as a part of this association will help curtail health hazards attributable to the air pollution in transportation sector.

Speaking on the occasion of formalizing this alliance, Dr. Pramod Chaudhari, Executive Chairman, Praj Industries, said, "We are delighted to partner with ARAI, India's premier institution, to develop application technologies to create a positive impact on environment and society. The projects we jointly undertake will reinforce of our Bio-Mobility™ platform that offers technology solutions globally to produce carbon neutral transportation fuel from bio-based feedstock for all modes of mobility. Solutions developed under this program will not only bolster the rural economy but also align with the goals of Atma Nirbhar Bharat Abhiyan."

Expressing the views on this constructive alliance, Mr. N V Marathe, Officiating Director of ARAI said, "It is important how we accelerate India's access to affordable and cleaner energy encompassing Bio economy. We see great prospective here. and are delighted to join hands with Praj, India's most accomplished process engineering company in the Bio economy, to unlock enduring worth of sustainable mobility for India. I am confident that this alliance will not only boost Green Economy but also line-up with objectives of being 'Vocal for Local' for selfsustenance."

The collaboration between Praj and ARAI aims to reinforce India's position as a technology leader in the global biofuels industry. ARAI wishes to execute mutually beneficial collaborative Projects for development of technologies, to produce customized fuels for best efficiency in terms of reduced fuel consumption and discharge emissions, under this alliance.

Shares of PRAJ INDUSTRIES LTD. was last trading in BSE at Rs.62.5 as compared to the previous close of Rs. 62.95. The total number of shares traded during the day was 34821 in over 312 trades.

The stock hit an intraday high of Rs. 63.65 and intraday low of 62.4. The net turnover during the day was Rs. 2192302.

1. TEMPO- technology, engineering , manufacturing, project management, operations.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

WardWizard Innovations & Mobility Ltd. to double the production capacity by October 2021

InterGlobe Technology Quotient and EaseMyTrip announce agreement worth $10 million

Birlasoft Solution achieves Oracle Validated Integration with JD Edwards EnterpriseOne Expertise for Delivering Proven, Repeatable Integration

Gokul Agro Resources Limited wins Globoil Rising Star of the Year 2021 award

Nucleus Software's PaySe passes RBI's Regulatory Sandbox

Ind-Ra upgrades rating of Happiest Minds Technologies Ltd

Kreon Finnancial Services Ltd updates on business performance

IndusInd Bank partners with Vistara to launch a co-branded credit card

Patel Engineering bags new order of Rs. 1251 crore Teesta-VI Hydro Electric Project

Renaissance Global establishes Strategic Advisory Board

Mindtree Recognized by Great Place to Work® as one of India's Best Workplaces™ for Women 2021

Manali Petrochemical Ltd to partner with Econic, UK for new Polyol Technology

Goa Carbon Ltd shuts down Bilaspur Unit, Goa Unit for maintenance work

Government of India announces India's airspace map for Drones operations

Astrazeneca Pharma India Ltd receives import and market permission for Selumetinib 10 Mg & 25 Mg Capsule

Spirit of Wipro Run brings together participants from 35 countries

Federal Bank partners with Ashok Leyland

Kotak Mahindra Bank forays into Healthcare Financing

Puravankara announces Credit Rating Upgrade by India Ratings and Research

Pay your Tata Power-DDL Bill before September 30 and stand a chance to Win Exciting Prizes

Kotak Launches Kotak Shiksha Nidhi - Financial Assistance to Students, who have lost a Primary Earning Member to COVID-19, for the Continuation of Education

Mr. Sankarshan Basu and Mr. Ramanand Mundkur Join Federal Bank's Director Board

Vedanta Jharsuguda's Power Plants awarded as 'Best Water-Efficient Plants'

PG Electroplast applies for the PLI scheme, commits Rs 300 crore Capex

Radico Khaitan signs Nidhi Agerwal as their brand influencer for Morpheus Brandy

IndianOil Corporation Collaborates with Automation Anywhere to Accelerate Automation

Federal Bank partners with OneCard to offer mobile-first Credit Card

Newgen Recognized in 2021 Gartner Magic Quadrant for Enterprise Low-Code Application Platforms for Second Year in a Row

Reliance Infrastructure Limited board approves FCCB issue, to convert into shares at Rs. 111

Reliance Power Limited appoints Shri Subrajit Bhowmick as CFO

HDFC has sold 2.13% stake in Ansal Housing Ltd

Aditya Birla Sun Life AMC reserves 1,944,000 shares to shareholders of Aditya Birla Capital Ltd

IndusInd Bank Ltd has sold 6,30,733 Equity shares of McLeod Russel India Ltd

Zeal Aqua Ltd fixes Oct 19, 2021 as record date for stock split

Mangal Credit & Fincorp Limited launches channel partners for gold loan

IRB Infrastructure Developers Ltd receives LoA from NHAI for road project in Tamil Nadu

Reliance Infrastructure Ltd appoints Shri Sandeep Khosla as CFO

PB Fintech Ltd withdraws from merger with Makesense Technologies Ltd

Avi Products India Ltd receives approval from BSE for preferential issue

TVS Srichakra Limited to participate in rights issue of TVS Srichakra Investments Ltd

Biocon Biologics Insulin Manufacturing Facility in Malaysia Completes U.S. FDA (PAI) Inspection

PNB shortlists Alankit Ltd as National Business Correspondent

Balkrishna Industries Limited to raise Rs. 1000 crores

CRISIL upgrades long term rating of Nahar Spinning Mills Ltd

Mr. Sujay Wasan resigns as Director of Procter & Gamble Health Limited

InterGlobe Aviation Ltd updates on arbitral award

B N Rathi Securities Limited board approves rights issue

Orient Cement Ltd to explore setting up of Cement Grinding Unit at Tiroda, Maharashtra

NBCC India Ltd secures work order at Hulhumale, Maldives

Dalmia Cement Bharat Ltd commences commercial production of Line 2 at its Kapilas Cement Manufacturing Works, Cuttack


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020