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Pune Plant Turns Farm Waste Into Bio-Crude with ₹250 Cr Funding
14 Nov
Summary
- Greenjoules secures ₹250 crore for a new bio-crude plant near Pune.
- The plant will convert agricultural residues into 2 lakh litres of bio-crude daily.
- The project uses proprietary ICTC technology to reduce food-fuel competition.
Greenjoules Private Ltd has secured a significant ₹250 crore to establish a new bio-crude production plant near Pune, Maharashtra. This facility is poised to become a major player in India's burgeoning biofuel sector. It will process agricultural residues, such as paddy straw and husk, into bio-crude using the company's proprietary Integrated Catalytic Thermo Cracking (ICTC) technology.
The plant, located in Khed City, aims for a daily capacity of 2 lakh litres of bio-crude. This intermediate product can then be refined into renewable diesel and bio-naphtha. By utilizing non-food agricultural waste, the project circumvents the controversial food-versus-fuel debate often associated with first-generation biofuels. Funding includes ₹100 crore from the Technology Development Board and ₹150 crore from a Series B funding round.
India's National Policy on Biofuels, 2018, categorizes such waste-to-fuel initiatives under second-generation (2G) biofuels. This aligns with the nation's strategy to reduce reliance on imported fossil fuels and promote a circular economy. Schemes like Pradhan Mantri JI-VAN Yojana and GOBARdhan further support the development of a robust biofuel ecosystem, transforming agricultural waste into valuable energy resources.
