Praj Industries (Praj) and Automotive Research Association of India (ARAI) signed a Memorandum of Understanding (MoU) under which they will jointly develop advanced biofuels application technology for the usage in industry and transportation. This technology will help to reduce the health risks posed by air pollution in the transportation sector.
About the agreement
i.This collaboration will enable them to jointly address technologies to expand the use of biofuels in a variety of applications, including the use of Internal Combustion Engines (ICEs) in the transportation sector.
ii.As per the MoU, Praj will provide biofuel technology solutions through its TEMPO(Technology, Engineering, Manufacturing, Project management, Operations) business model and ARAI will contribute its vast experience in the field of alternative fuels, green and sustainable mobility.
iii.The projects that are jointly undertaken will reinforce the Praj’s Bio-Mobility TM platform that offers technology solutions globally to produce carbon neutral transportation fuel from bio-based feedstock for all modes of mobility
Note– The collaboration also aims to strengthen the position of India as a technology leader in the global biofuels industry.
Benefits of Biofuels
i.Biofuels developed for the mobility sector will have a potential to reduce carbon footprint and improve tailpipe emissions.
ii.They are derived by processing bio-based feedstock such as agri residue, molasses, cane syrup among others.
iii.They facilitate energy self-reliance and also help conserve the environment.
Relationship b/w Transportation sector & GHG Emission
i.The transportation sector is the largest consumer of imported crude oil and natural gas.
ii.As per the world energy statistics data, it is the 3rd largest source of Greenhouse gases(GHG) emissions after the power sector & industry.
iii.As a signatory to the Paris summit to reduce GHG emissions by 30-35%, India has to redefine its transportation fuel mix.
Recent Related News:
i.The Power Finance Corporation(PFC) signed an agreement to fund Rs. 22,000 crore with Narmada Basin Projects Company limited(NBPCL) of Government of Madhya Pradesh for the 225 MW hydro-electric projects and multipurpose projects in the state.
ii.Indian Air Force signed MoU with Savitribai Phule Pune University to establish a ‘Chair of Excellence’ named “Marshal of the Air Force Arjan Singh Chair of Excellence”.
Headquarters– Pune, Maharashtra
Founder & Executive Chairman– Pramod Chaudhari
Managing Director(MD) and Chief executive Officer(CEO)– Shishir Joshipura
HeadOffice- Pune, Maharashtra
Officiating Director– Nilkanth V Marathe