Praj Industries And Gevo Sign Development & Commercialization Agreement To Scale Bio-Isobutanol Technology For Diesel Blending In India

Praj Industries 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 a 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. According to Petroleum Planning & Analysis Cell (PPAC), India consumed approximately 94.7 million tonnes (29.7 billion US gallons) of high-speed diesel in FY2025-26.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.