Praj Industries has made its foray into renewable chemicals and material business. Speaking at a plenary session of Advanced Bioeconomy Leadership Conference (ABLC) 2020 Digital, Dr. Pramod Chaudhari, Executive Chairman, Praj Industries announced Praj’s foray into the global Renewable Chemicals and Materials (RCM) industry.
Praj’ strategy has been to expand its business horizons leveraging its innovative, technology solutions in Bioeconomy. As a part of its newly launched Bio-PrismTM portfolio, Praj is developing technologies to produce bio-based Renewable Chemicals and Materials (RCM). RCM produced from bio based feedstocks are sustainable alternatives to products made from fossil resources.
On the back of a formidable track record of its Bio-MobilityTM platform for renewable transportation fuel globally, Praj is now making inroads into RCM industry through its newly launched Bio-PrismTM portfolio.
Praj’s Bio-PrismTM portfolio comprises variety of bio-industrial products, including bio plastics as a priority, along with cellulose-lignin refinery products and specialty products. These products have applications in industry sectors such as automotive, packaging, furnishing, construction, agriculture and food. Over a short to medium term, Praj plans to commit substantial resources for technology and application development with its strategic partners.
Speaking on the side-lines of ABLC 2020 Digital, Dr. Pramod Chaudhari, said, “Praj pole-vaults into a league of select companies worldwide that are configuring the RCM landscape, with the launch of the Bio-Prism portfolio. Together with Bio-mobility, Bio-Prism becomes another mainstay of Praj’s contribution to the global Bio economy. Over past 3 decades we have developed deep insights and expertise at our R&D facility, Praj Matrix, in processing diverse range of bio-based feedstocks. Our stride in RCM is the result of exclusive work in molecular biology, microbiology, fermentation and chemical synthesis.” Depicting RCM project as “Nature Reimagined – The Promise of Sustainability”, he further added that Praj is open to exploring newer business models with strategic partners.
To bring this vision into reality, Praj has technical collaborations with renowned global organizations. Praj has already entered into an overarching MoU with National Chemical Laboratory (NCL) for jointly working on promising project opportunities in RCM space. Praj brings to the table its expertise in technology development, process optimization, integration and scale-up. Praj has constituted an expert panel of advisors around the globe to help draw-up a strategic blue print and to guide in progression of RCM programme.