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Sharat MEshram, Executive Director of Petrochemicals, Indian Oil, and Prabhakar Nair, Vice President of Business Development, Asia Pacific, LanzaTech, signed the memorandum of understanding in New Delhi. Also present at the signing ceremony were Indian Petroleum Chairman BM Bansal and LanzaTech CEO Jennifer. Dr. Holmgren.
Indian Oil will evaluate LanzaTech's proprietary gas fermentation technology at a refinery of the company to produce fuel-grade ethanol.
Mr Bansal said that Indian oil companies are looking for innovative solutions to expand their energy resources to meet the growing needs of the Indian economy.
Mr. Bansal said: "LanzaTech's technology will support our work by utilizing the fuel-grade ethanol produced by the exhaust stream to meet some of the requirements of future MS hybrids. We are committed to the development of sustainable biofuels, and ethanol blending will also be Must be supported by technical solutions."
Dr. Holmgren said that this cooperation will enable both parties to accelerate the technical economic and feasibility analysis.
Dr. Holmgren said: "Our goal is to demonstrate that Indian Oil's refineries will achieve greater profitability and a reduction in the total carbon footprint. This will also enable Indian oil companies to comply with the country's renewable fuel policy. It is a great pleasure to cooperate with Indian Oil Company to bring a new type of indigenous resources to India's liquid transport fuel pool."
LanzaTech received several major investments from KhoSLa Ventures, which has already cooperated on several international projects in the steel, coal and chemical products sectors. LanzaTech's product portfolio has expanded from production of fuel ethanol from non-food renewable resources to the production of 2,3-butanediol (2,3-BD) - a base material for polymers, plastics and hydrocarbon fuels .
It is estimated that over 80% of India's crude oil will depend on imports in the coming years. India’s biofuels policy will promote the use of alternative renewable fuels from sustainable non-food sources, and currently require oil companies to mix up to 5% of ethanol with gasoline.
Indian Oil Company and LanzaTech Sign Memorandum of Understanding on Fuel-grade Ethanol Technology
India’s flagship oil giant Indian Oil and leading clean energy technology company LanzaTech signed a memorandum of understanding in cooperation with a technology demonstration that will enable Indian oil companies to produce fuel-grade ethanol.