Shares of Praj Industries surge on technology breakthrough to produce Bio-bitumen
The industrial biotech company, Praj Industries announced today that it has successfully developed innovative technology to produce Bio-bitumen based on lignin after Netherlands-based Circular Biobased Delta approved Praj’s Bio-bitumen samples processed from purified lignin.
Lignin is one of the co-products resulting from the second generation of Ethanol plants, paper making, and also from compressed bio-gas plants. The company has developed a proprietary process (under patent) to convert this crude lignin into Bio-bitumen which has the potential to replace this fossil-based bitumen. This liquid has strong binding and viscoelastic properties, which make it useful for application in asphalt.
Speaking on the development, Dr Pramod Chaudhari, Founder Chairman of Praj Industries stated that the company is the first Asian company to have developed Bio-bitumen that has the potential to partially replace bitumen from fossil resources. In addition to this, it will also play a significant role as road construction material while curbing emissions.
At 2.12 pm on Tuesday, the shares of Praj Industries were trading at Rs 350.50, up by 6.31 per cent or Rs 20.80 per share, against a 1.33 per cent gain in the benchmark index. The 52-week high of the company is recorded at Rs 356.80 while its 52-week low is Rs 52.70 on BSE.