Praj and Gevo Enter Development & Commercialization Agreement for Bio-IBA in India
Praj Industries (PRAJIND | 522205) and Gevo Inc. (NASDAQ: Gevo) today announced the signing of a Development & Commercialization Agreement for Bio-Isobutanol (Bio-IBA) technology in India, reinforcing their long-standing association to advance sustainable low-carbon fuel solutions.
Under the agreement, Praj will lead the commercialization of Bio-IBA technology in India, with exclusive rights to deploy the technology in the country. The partnership will focus on developing commercial opportunities for Bio-IBA, with primary emphasis on diesel blending applications that have the potential to reduce the carbon intensity of one of the world’s most widely used transportation and industrial fuels.
The agreement builds upon more than a decade of association between the two companies to adapt, develop and advance Bio-IBA technology for Indian feedstocks and market requirements. Praj’s deep understanding of India’s sugar- and starch-based feedstocks, its expertise in engineering, project execution, scale-up and market development, combined with Gevo’s Bio-IBA technology, will support its scale-up and commercial adoption in India.
In a separate development aligned with the broader objective of advancing Bio-IBA adoption, Praj is currently establishing India's first commercial Bio-IBA demonstration plant for a leading Oil Marketing Company (OMC). The project is being designed, engineered, supplied and erected by Praj based on Gevo's licensed Bio-IBA technology. The demonstration plant is expected to play an important role in validating production, supply-chain and market-development pathways for future commercialization opportunities in India.
Bio-IBA presents a promising opportunity for reducing the carbon footprint of diesel across a wide range of applications, including transportation, agriculture, mining, construction and industrial operations. Given India's large diesel economy and abundant renewable feedstock resources, Bio-IBA has the potential to become an important component in the country's transition towards lower-carbon fuels.
Encouragingly, stakeholders across the value chain, including fuel producers, vehicle and equipment manufacturers, research institutions and end users, are actively working towards enabling Bio-IBA-based diesel blending in India. Multiple initiatives aimed at technology validation, application development, regulatory assessment and supply-chain preparedness are progressing in parallel, reflecting growing industry interest in bringing diesel blending solutions to commercial reality.
"This agreement marks an important milestone in our relationship with Praj and in the advancement of Bio-IBA in India” said Gevo Chief Executive Officer Paul Bloom. “Gevo brings proven renewable isobutanol technology and commercialization experience, while Praj contributes deep expertise in engineering, deployment and market development. Together, we are creating a framework to unlock new opportunities for Bio-IBA, particularly in diesel applications, while supporting broader decarbonization objectives."
“Our collaboration with Gevo has steadily evolved through technology development, application innovation and market-building efforts over the years”, said Dr. Pramod Chaudhari, Founder Chairman, Praj Industries. “This Development & Commercialization Agreement establishes a strong foundation for bringing Bio-IBA to the Indian market. We believe Bio-IBA has the potential to emerge as an important renewable fuel solution for the diesel economy, complementing India's broader energy transition and sustainability goals.”
Beyond diesel applications, Bio-IBA also serves as a platform molecule for the production of Sustainable Aviation Fuel (SAF) and other renewable chemicals, further highlighting its versatility and long-term strategic importance within the emerging bioeconomy.
According to the Petroleum Planning & Analysis Cell (PPAC), India consumed approximately 94.7 million tonnes of high-speed diesel in FY2025-26, underscoring the significant opportunity for innovative low-carbon fuel solutions that can support the nation's energy security and decarbonization ambitions.
