Indian Oil Corp (IOC), one of India’s largest oil refiners, has announced its collaboration with LanzaJet, a leading sustainable fuels technology company, to establish an aviation fuel plant in Haryana. With an investment of approximately 23 billion rupees ($280.1 million), this strategic partnership aims to promote the production of sustainable aviation fuel (SAF) in the country. IOC Chairman, S.M. Vaidya, shared this significant development during an industry event held in New Delhi.
Promoting Sustainable Aviation Fuel:
The proposed 80,000-tonne aviation fuel plant will contribute to reducing the carbon footprint of the aviation industry by producing sustainable alternatives to traditional jet fuel. SAF, also known as biojet fuel, is produced from renewable sources such as agricultural and municipal waste, non-edible plant oils, and other sustainable feedstocks. By partnering with LanzaJet, which specializes in advanced biofuel technologies, IOC is emphasizing its commitment to sustainable practices and environmental stewardship in the aviation sector.
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Investment in a Greener Future:
The substantial investment of 23 billion rupees underscores IOC’s dedication to driving the adoption of cleaner energy solutions. By venturing into sustainable aviation fuel production, the company aims to address the environmental challenges associated with the aviation industry, including carbon emissions and climate change. This initiative aligns with India’s national and international commitments to reduce greenhouse gas emissions and achieve sustainable development goals.
Partnership with Praj Industries:
In addition to its collaboration with LanzaJet, IOC is actively involved in a pilot project for green fuel in partnership with Praj Industries. The pilot project is being implemented in Maharashtra, a western state in India. Praj Industries is a global leader in renewable energy and sustainable technologies, making it an ideal partner for IOC’s endeavors in the green fuel sector. This joint effort will enable IOC to explore and develop alternative fuel options beyond aviation, further supporting the nation’s transition to a low-carbon economy.
Driving the Transition to Sustainable Energy:
The establishment of the aviation fuel plant and the ongoing pilot project highlight IOC’s proactive approach in driving the transition towards sustainable energy solutions. By investing in advanced technologies and strategic collaborations, the company is positioning itself as a frontrunner in the development and production of clean and renewable energy sources. These initiatives not only contribute to India’s energy security but also reinforce the nation’s commitment to mitigating climate change and achieving a greener future.
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