FILE PHOTO: The logo of Royal Dutch Shell is pictured during a launch event for a hydrogen electrolysis plant at Shell's Rhineland refinery in Wesseling near Cologne, Germany, July 2, 2021. REUTERS/Thilo Schmuelgen
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.
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.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
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.
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.
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.
The Indian government has announced plans for public sector companies like Coal India, NMDC, and…
In April, India's merchandise exports saw a modest 1% increase, reaching $34.99 billion, driven by…
The Open Network for Digital Commerce (ONDC), a digital infrastructure initiative launched in 2021, has…
In response to rising credit demand and falling liquidity, State Bank of India (SBI) has…
The Indian Army is poised to elevate its air defense capabilities with the impending delivery…
India has signed a 10-year agreement to develop and operate Iran’s strategic Chabahar Port to…