Praj wins breakthrough order to set up Compressed Biogas plant from HPCL

Praj Industries bags the prestigious breakthrough order from Hindustan Petroleum Corporation Limited (HPCL) for setting up Compressed Biogas (CBG) project at Badaun in Uttar Pradesh. Praj is offering its State of the art, worlds' first of its kind RenGas™ technology developed using proprietary microbe to produce CBG from rice straw.

The project has capacity to process 35000 MT of rice straw as feedstock to generate 5250 MT of CBG annually. In addition, the project will also generate 23,000 MT high quality solid biomanure and 350,000 MT of liquid bio-manure for ferti-irrigation. This project has a potential to save up to 15000 MT of C02 emissions per year. The project will be completed and commissioned within 12 months timeframe.

The Best-in-Class RenGas™ technology, to process agri-residues for the production of CBG is developed at Praj-Matrix, Department of Scientific and Industrial research (DSIR) certified the R&D centre. Praj has incorporated unique dual plug flow digestor design, in collaboration with DVO Inc of USA. This patented design technology has several advantages including higher efficiency, lower energy consumption and near zero maintenance. RenGas™ technology yields are considerably higher compared to conventional biogas processes.

This project will contribute to the Ministry of Petroleum and Natural Gas (MoPNG), GOI's Sustainable Alternative towards Affordable Transportation (SATAT) initiative with an objective to promote CBG as an alternative, green transport fuel. The project will generate significant employment opportunities in surrounding farming and rural community. Agricultural waste in the form of rice straw procured as feedstock for the CBG project will provide additional income revenue stream to farmers, facilitating GOl's flagship program of Doubling Farmers Income.

Speaking on this development, Mr. Shishir Joshipura CEO & MD of Praj said, "We are delighted to partner HPCL for the CBG project at Badaun UP which will deploy RenGas™ technology an integral part of our Bio-Mobility™ platform. This project is a definitive solution to meet the challenge of air pollution related to stubble burning while simultaneously enable sustainable decarbonisation. This project will facilitate India's pursuit of energy security, and also, a definitive step towards Atmanirbhar Bharat. We are already executing for HPCL advanced biofuels project at Bhatinda Panjab, based on our enfinity 2G technology that uses rice straw as feedstock to produce ethanol. We look forward to continue strengthening of our association with HPCL in future."

Shares of PRAJ INDUSTRIES LTD. was last trading in BSE at Rs.187.5 as compared to the previous close of Rs. 182.7. The total number of shares traded during the day was 529873 in over 5080 trades.

The stock hit an intraday high of Rs. 189.9 and intraday low of 174.2. The net turnover during the day was Rs. 97935752.

Source : Equity Bulls

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