New Delhi: Navratana PSU Engineers India Limited (EIL) and Chempolis OY, Finland have signed a strategic alliance for the conversion of biomass to green fuels. According to EIL, the collaboration agreement has been signed on November 24, between EIL and Chempolis at the EIL Head Office, New Delhi. The agreement was executed in the presence of EIL’s Chairperson & Managing Director (CMD) Vartika Shukla, EIL’s Director (Projects) SK Handa, Director (HR) AK Kalra, Fortum India’s Managing Director Sanjay Aggarwal and Faizur Rehman (Head-Bio2X, Fortum).
This agreement shall pave the way to pursue business development in the sunshine area of renewables, ie Cellulosic 2G Ethanol Technology. This is an important milestone for EIL in expanding its wings into the futuristic green technologies beyond robust oil & gas portfolio and continues the journey towards building the nation’s future towards net-zero.
This arrangement also paves way for Chempolis to bring to the nation innovation & technology in the area of green and renewable products.
In the changing global energy landscape, biomass-based fuels are a promising alternatives for supplementing fossil fuels towards a sustainable energy future. In addition to this, biomass can be utilized to produce value-added products such as phenolic resins that have the potential to substitute a lot of products obtained from fossil fuels. GoI has also set a target to achieve 20 percent blending of ethanol in gasoline by the year 2025. Many biomass-based product facilities are expected to be installed in the coming years in India and across the world to fulfil the demand for green products.
Also, both the organisations operate in the Indian subcontinent market and have complementary products or services and thus this association will add value in presenting the synergized and regulatory compliant products and services to end customers in the Indian subcontinent.
(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)