Praj to collaborate with Sweden firm to mitigate climate change

On Monday, Praj Industries and Sekab E-Technology AB (Sweden) signed a cooperation agreement to upgrade and commercialise base technology for producing advanced biofuels and biochemicals from forest residue as feedstock.

As a part of this partnership, Praj Industries will add significant value to Sekab's CelluAPP technology of converting forest residue in the form of softwood to ethanol, through Praj’s proven capabilities, with an ultimate aim to improve, optimise, integrate and scale-up advanced biofuel technologies globally.

Praj's proprietary enfinity technology to process agricultural residue (bagasse, rice straw, wheat straw, corn stover, cotton stalk, and empty palm fruit bunches) to produce advanced biofuels, has won the confidence of the oil & gas industry. The company has licensed enfinity technology to as many as four oil companies to set up integrated bio-refineries, which are in various stages of implementation.

The above collaboration will enable comprehensive advanced biofuel solutions for the Nordic countries, as in USA, Canada and other geographies where surplus residues from snow forest, is available in abundance.

Praj Industries Limited is engaged in the business of process & project engineering. It provides solutions for various grades of ethanol, including beverage, fuel, industrial, pharma and perfumery as well as brewery plants.

On Monday, the stock closed at Rs 54.80, down by 3.01 per cent or Rs 1.70 per share. The 52-week high is recorded at Rs 154.20 and the 52-week low is recorded at Rs 43.