With the aim to drive bioenergy sector growth in India, biofuels conglomerate TruAlt Bioenergy has signed an MoU with Sumitomo Corporation Asia & Oceania (SCAO), a leading global trading and investment solutions provider.
The agreement is signed soon after TruAlt Founder & Managing Director Vijay Nirani revealed that his company would be building one of the biggest SAF projects in India very soon.
TruAlt held that the new collaboration will focus on sustainable energy projects, including Biogas, Compressed Biogas (CBG), First Generation (1G) and Second Generation (2G) Ethanol, Sustainable Aviation Fuel (SAF), and biochemicals derived from the sugar value chain. The partnership will also explore carbon credit initiatives, reflecting both companies’ shared vision for innovation and environmental sustainability.
This MoU comes at a crucial time as India accelerates efforts to meet its climate goals, which include achieving 500 GW of non-fossil energy capacity and sourcing 50% of its energy needs from renewables by 2030. TruAlt Bioenergy, a key player in India’s biofuels industry, is actively contributing to this mission through leadership in ethanol production and CBG initiatives under the SATAT scheme.
Vijay Nirani stated on the development, “Together, with Sumitomo’s global expertise and TruAlt Bioenergy’s dedication to biofuels, we are poised to unlock scalable and consistent solutions that will drive India’s energy transition while addressing global sustainability challenges, including decarbonization and energy security, as we work toward achieving the net-zero goal by 2070.”
Today, TruAlt Bioenergy stands as India’s largest ethanol producer by installed capacity and has been a pioneer in biogas production through its subsidiary, Leafiniti Bioenergy, under the government’s SATAT scheme. The collaboration with SCAO is expected to introduce advanced strategies and technologies, enhancing scalability and efficiency in India’s bioenergy landscape.
TruAlt is also mulling its IPO valued at Rs 1000 crore very soon as its proposal submitted to SEBI has been sanctioned. The firm had also supplied a record 1,000 + Tons of compressed biogas (CBG) to the city gas distributor AGP City Gas Private Limited between January 2024 and May 2024.
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