Praj Industries Limited (Praj) on Tuesday announced a Memorandum of Understanding (MoU) with Egyptian Sugar and Integrated Industries Company (ESIIC) of Egypt. As a part of this MoU, Praj and ESIIC will develop infrastructure, help formulate policy framework, and create awareness to mainstream bioeconomy in Egypt.
“India’s most accomplished industrial biotech company Praj and Egypt’s largest sugar sector company ESIIC have come together to set up 1st and 2nd Generation ethanol projects in Egypt. Sugarcane bagasse and rice straw are envisaged to be feedstock for conceiving Egypt’s first 2nd Generation ethanol project,” Praj Industries said in a press release.
Low-carbon ethanol produced from these 2G ethanol plants will be supplied as feedstock for the production of speciality chemical. This sustainable biochemical will reduce dependency on the chemicals derived from fossil routes. Bioethanol supplied as a chemical intermediate is based on the circular bioeconomy principle that will reduce GHG emissions by recycling of carbon.
“We are very happy to join hands with Praj, a global leader industrial biotech. We believe this partnership will help Egypt scale greater heights in bioeconomy. We endeavor to adopt renewable alternatives to achieve carbon neutrality. Praj’s expertise in 2G ethanol space will definitely benefit Egypt,” said Essam El- Din EI-Bedewy, Chairman & Managing Director of ESIIC.
The MoU comes at a time when calls for phasing out fossil-based resources and transitioning to renewable alternatives are gathering momentum during the ongoing COP 27 summit.
“We are delighted to partner with ESIIC who are exploring use of ethanol beyond transportation application. To combat evils of climate change, harnessing cleaner greener technologies is an imperative as sustainable climate action. I am confident that, this partnership for furthering bioeconomy will accelerate energy transition as well as give boost to journey towards carbon neutrality,” said Pramod Chaudhari, Founder Chairman, Praj Industries.