Axens and Praj Industries have signed a Memorandum of Understanding to work jointly on projects in India for production of Sustainable Aviation Fuel (SAF) from low carbon alcohols through Alcohol-to-Jet (ATJ) pathway.

India is among top five aviation markets globally, and robust growth is expected over the next two decades. In its pursuit of Net Zero target, Government of India is mulling over introducing SAF mandates to decarbonize the aviation sector.

The ASTM approved ATJ pathway (ATJ-SPK) involving conversion of low-carbon ethanol or low-carbon isobutanol into SAF will play a major role in meeting India's requirement of SAF production.

Praj brings to the table proven expertise in modularized solutions, integration services for complete project and technology for production of low carbon isobutanol and ethanol from conventional bio-sourced feedstock.

Axens will provide its JetanolTM Alcohol-To-Jet technologies (dehydration, olefin oligomerization and hydrogenation steps), catalyst solution, equipment and services (training, technical assistance) for conversion of alcohols to SAF.

Axens and Praj will continue to individually offer technology for production of low carbon ethanol from cellulosic biomass in India and abroad.

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Net profit of Praj Industries rose 68.15% to Rs 62.30 crore in the quarter ended December 2022 as against Rs 37.05 crore during the previous quarter ended December 2021. Sales rose 55.38% to Rs 909.97 crore in the quarter ended December 2022 as against Rs 585.64 crore during the previous quarter ended December 2021.

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Praj Industries will hold a meeting of the Board of Directors of the Company on 3 February 2023.

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Praj Industries has allotted 6000 equity shares under ESOP on 17 November 2022. With this allotment, the paid up equity share capital has increased to 183,713,088 equity shares of Rs 2 each.

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