Praj Industries Limited has informed the Exchange regarding a press release dated Jun 03, 2025, titled "Praj, IATA, and ISMA Join Forces to Advance SAF CarbonAssessment and Certification in India".
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Praj Industries has signed a strategic Memorandum of Understanding (MoU) with the International Air Transport Association (IATA) and the Indian Sugar & Bio-energy Manufacturers Association (ISMA) to advance Sustainable Aviation Fuel (SAF) in India. The three partners will conduct a Life Cycle Assessment (LCA) of SAF produced from Indian sugarcane using the Ethanol-to-Jet (ETJ) pathway and develop an India-specific certification methodology aligned with ISCC CORSIA and RSB CORSIA international standards. The partnership comes ahead of India's planned SAF blending mandate of 1% by 2027 and 2% by 2028. Praj already operates India's first integrated SAF demonstration plant at its Praj Matrix R&D facility in Pune and has previously collaborated with Indian Oil Corporation and AirAsia India on indigenous SAF production.
This collaboration strengthens Praj's positioning as a leading player in India's emerging SAF market, potentially creating new revenue opportunities ahead of the 2027-2028 SAF blending mandate. The involvement of globally recognized IATA lends credibility to Praj's SAF technology and could boost investor confidence in its bioenergy and clean fuel business, though commercial impact remains medium-term.