By: ICN Bureau
Last updated : October 14, 2024 6:36 pm
The joint venture will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas
IndianOil has entered into a Joint Venture (JV) Agreement with EverEnviro Resource Management, a leading biofuels company in the country. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.
The agreement was signed by Dr. Santanu Gupta, Executive Director (Alternative Energy), IndianOil and Mahesh Girdhar, MD & CEO of EverEnviro in the presence of IndianQil dignitaries N Senthil Kumar, Director (Pipelines) holding additional charge of Director (P&BD), Alok Sharma, Director (R&D) and Arvind Kumar, Director (Refineries). Pravin Dongre, ED (Sustainable Development), IndianOil and Deepak Agarwal, ED, EverEnviro were also present besides other senior officials from both the organizations.
The joint venture will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels. By leveraging their combined expertise, IndianOil and EverEnviro aim to accelerate the deployment of CBG plants nationwide.
These initiatives complement IndianOil's long-term low-carbon development strategy and achievement of operational Net Zero goal by 2046, which will also help in achieving the Net-Zero target for India by the year 2070. CBG offers numerous benefits to India and the environment.