As Panchabuta has reported earlier this month, the Confederation of Indian Industry (CII) says, the government should raise the price of bio-diesel obtained from the jatropha plant to support the bio-diesel industry’s sustainability efforts. In a proposal submitted to the ministry of new and renewable energy, the industry lobby suggested the price could be increased from Rs.26.50 per litre to Rs.36.
The biofuels space has witnessed a lot of activity in India over the last few months. Recently, Khosla Ventures funded New Zealand based clean-energy company LanzaTech signs deal with Indian Oil Corporation for ethanol production in India. They signed an Memorandum of Understanding (MOU) for collaboration in a technology demonstration that will enable IndianOil to produce fuel grade ethanol.IndianOil will evaluate LanzaTech’s proprietary gas fermentation technology in one of its refineries to produce fuel grade ethanol.
Praj Industries announced a partnership with Soros backed Qteros to accelerate global commercialization of Cellulosic Ethanol in countries including India. Qteros is funded by leading investors in the alternative energy industry including, among others, Venrock Associates, Battery Ventures, BP Technology Ventures, Soros Fund Management LLC, and Valero Energy Corporation.
Earlier, Panchabuta has discussed about the ethanol story in India and the status of Ethanol Blended Petrol Programme (EBPP) so far.
According to reports, Indian Institute of Chemical Technology is working on renewable energy sources like bioelectricity, bio fuels and solar cells.
It has already built a 10-litre per hour capacity plant that can use any feedstock for biodiesel extractions, according to Ahmed Kamal, incharge director of IICT.
Addressing a press conference here on the sidelines of a three-day international conference on recent trends in renewable energy, he said the biodiesel process was ready and IICT would partner others for technology transfer for mass production.
IICT together with the International Crop Research Institute for Semi Arid Tropics is working on bioethanol from sorghum. The cereal is used for consumption while the rest of the plant is used for bioethanol. IICT is dealing with fermentation part of bioethanol. Among others, the institute is working on organic solar cells and would rope in an industrial partner to take the project further, he said.
There are welcome developments as a number of Private Equity players that Panchabuta spoke to are very keen to invest in current generation and next generation biofuel companies and there are limited opportunities that are arising in this space. Also careful evaluation needs to be carried out with specific attention to the feedstock etc as it pertains to the Indian scenario.
Panchabuta will be covering the developments in this exciting space in India.