Announcement
On September 16, 2026, Praj Industries Limited (BSE: 522205) and Gevo Inc. (NASDAQ) announced the signing of a Development & Commercialization Agreement to introduce Bio‑Isobutanol (Bio‑IBA) technology in India. The agreement was signed jointly in Pune, Maharashtra, India and Englewood, Colorado, United States.
Agreement Scope and Rights
Under the agreement, Praj will lead the commercialization of Bio‑IBA in India and has been granted exclusive rights to deploy the technology across the country. The partnership will concentrate on developing commercial opportunities for Bio‑IBA, with primary emphasis on diesel‑blending applications that can reduce the carbon intensity of diesel, one of the world’s most widely used transportation and industrial fuels.
Demonstration Plant
Praj is concurrently establishing India’s first commercial Bio‑IBA demonstration plant for a leading Oil Marketing Company (OMC). The plant is being designed, engineered, supplied and erected by Praj using Gevo’s licensed Bio‑IBA technology. This demonstration facility is intended to validate production processes, supply‑chain logistics and market‑development pathways for future commercial roll‑outs in India.
Technology and Market Potential
Bio‑IBA offers a renewable platform molecule that can be blended into diesel to lower its carbon footprint and can also serve as a feedstock for Sustainable Aviation Fuel (SAF) and other renewable chemicals. Given India’s large diesel economy and abundant sugar‑ and starch‑based feedstocks, the technology is positioned to become a significant component of the country’s transition to lower‑carbon fuels. Stakeholders across the value chain—including fuel producers, vehicle and equipment manufacturers, research institutions and end users—are actively pursuing technology validation, regulatory assessment and supply‑chain readiness for Bio‑IBA‑based diesel blending.
Diesel Consumption Context
According to the Petroleum Planning & Analysis Cell (PPAC), India consumed approximately 94.7 million tonnes of high‑speed diesel in FY2025‑26, underscoring the sizable market opportunity for low‑carbon fuel solutions.
Executive Comments
Gevo Chief Executive Officer Paul Bloom said, “This agreement marks an important milestone in our relationship with Praj and in the advancement of Bio‑IBA in India. Gevo brings proven renewable isobutanol technology and commercialization experience, while Praj contributes deep expertise in engineering, deployment and market development.”
Dr. Pramod Chaudhari, Founder Chairman of Praj Industries, added, “Our collaboration with Gevo has steadily evolved through technology development, application innovation and market‑building efforts over the years. This Development & Commercialization Agreement establishes a strong foundation for bringing Bio‑IBA to the Indian market.”
About Praj Industries
Praj Industries Limited is a global biotechnology and engineering company with a portfolio that includes Bio‑Mobility® (renewable transportation fuels), Bio‑Prism® (renewable chemicals and materials), Praj Matrix (R&D centre), Praj GenX (advanced manufacturing and modular process systems), and Praj HiPurity Systems (high‑purity process solutions). The company serves more than 1,000 customers in over 100 countries and is listed on both the Bombay Stock Exchange and the National Stock Exchange of India.
About Gevo
Gevo is a diversified energy company focused on cost‑effective, drop‑in renewable fuels and chemicals. Its technology portfolio includes sustainable aviation fuel, motor fuels, renewable chemicals, an ethanol plant with carbon capture and storage, a dairy‑based renewable natural gas facility, and the world’s first specialty alcohol‑to‑jet (ATJ) production facility. Gevo operates a “pay‑for‑performance” model to deliver carbon and sustainability attributes and maintains transparency through its Verity subsidiary.