Agreement Details
Praj Industries Limited and Gevo Inc. (NASDAQ: Gevo) signed a Development & Commercialization Agreement for Bio-Isobutanol (Bio-IBA) technology in India on 16th September, 2026. The agreement reinforces their long-standing association of more than a decade to advance sustainable low-carbon fuel solutions.
Key Terms
- Praj will lead the commercialization of Bio-IBA technology in India with exclusive rights to deploy the technology in the country
- Partnership will focus on developing commercial opportunities for Bio-IBA with primary emphasis on diesel blending applications
- Agreement aims to reduce the carbon intensity of transportation and industrial fuels
Demonstration Plant
In a separate but aligned development, Praj is currently establishing India's first commercial Bio-IBA demonstration plant for a leading Oil Marketing Company (OMC). The project is being designed, engineered, supplied and erected by Praj based on Gevo's licensed Bio-IBA technology. This demonstration plant is expected to play an important role in validating production, supply-chain and market-development pathways for future commercialization.
Market Context
According to Petroleum Planning & Analysis Cell (PPAC) data referenced, India consumed approximately 94.7 million tonnes of high-speed diesel in FY2025-26. Bio-IBA presents opportunities for reducing carbon footprint across transportation, agriculture, mining, construction and industrial operations.
Additional Applications
Beyond diesel applications, Bio-IBA serves as a platform molecule for the production of Sustainable Aviation Fuel (SAF) and other renewable chemicals, highlighting its versatility and long-term strategic importance.
Management Commentary
Paul Bloom, Chief Executive Officer of Gevo, stated: "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, commented: "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."
Company Background
Praj Industries Limited is a global biotechnology and engineering company with over four decades of experience, having over 1,000 customer references in more than 100 countries across six continents. The company's Bio-Mobility® and Bio-Prism® platforms focus on renewable transportation fuels and renewable chemicals/materials respectively.