BANGALORE India, Dec. 17, 2024 -- TruAlt Bioenergy has signed a Memorandum of Understanding (MoU) with Sumitomo Corporation Asia & Oceania (SCAO), a leading global trading and investment solutions provider, to collaborate on the development of bioenergy business across India.
TruAlt Bioenergy and SCAO are exploring a strategic collaboration in the bioenergy sector in India, focusing on a range of sustainable energy solutions. This potential partnership aims to advance projects across several key areas, including Biogas and Compressed Biogas (CBG), First Generation (1G) Ethanol, Second Generation (2G) Ethanol, Sustainable Aviation Fuel (SAF), and biochemicals derived from the sugar value chain. Additionally, the collaboration will explore initiatives around carbon credit projects, aligning with both companies' commitment to driving innovation and environmental sustainability in India's growing bioenergy landscape.
The signing of this MoU comes at a significant time as India continues to advance its climate action goals. TruAlt Bioenergy, one of India's leading biofuels producers, has aligned its efforts with the country's broader targets, including reaching 500 GW of non-fossil energy capacity and meeting 50% of its energy needs from renewable sources by 2030. TruAlt's initiatives, such as its leadership in ethanol production and compressed biogas (CBG) under the SATAT scheme, position the company to contribute meaningfully to reducing carbon emissions and supporting India's transition to cleaner energy. This collaboration with SCAO with its extensive global network and expertise in trading and investment, will provide advanced strategies and technological insights to ensure the scalability and efficiency of the partnership.
"We are delighted to join forces with Sumitomo Corporation Asia & Oceania. This partnership strengthens our commitment to contributing to a cleaner energy future for India. Together, with Sumitomo's global expertise and TruAlt Bioenergy's dedication to biofuels, we are poised to unlock scalable and consistent solutions that will drive India's energy transition while addressing global sustainability challenges, including decarbonization and energy security, as we work toward achieving the net-zero goal by 2070," said Mr. Vijay Nirani, Founder and MD, TruAlt Bioenergy.
About TruAlt Bioenergy
TruAlt Bioenergy is one of India's largest biofuels producers, strategically positioned as a prominent and diversified player in the biofuels industry, particularly in the ethanol sector. The company holds the distinction of being the largest ethanol producer in India by installed capacity. Through its subsidiary, Leafiniti Bioenergy, TruAlt Bioenergy is one of the first producers of Compressed Biogas (CBG) under the Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, introduced by the Government of India in 2018.
About Sumitomo Corporation Asia & Oceania
Sumitomo Corporation Asia & Oceania is a wholly owned subsidiary of Sumitomo Corporation Japan and is headquartered in Singapore with 25 offices across 14 countries in Asia & Oceania region. Sumitomo Corporation Group's business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemical Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of 'Enriching lives and the world,' based on Sumitomo's business philosophy passed down for over 400 years.
For more information, please contact:
Ms. Shivaaneey Rai
TruAlt Bioenergy
+91-9545850823
avpcomms@trualtbioenergy.com
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