Praj Industries Ltd announced its foray into the global Renewable Chemicals and Materials (RCM) industry, at a plenary session of ABLC 2020 Digital (Advanced Bioeconomy Leadership Conference). On the back of a formidable track record of its Bio-Mobility^TM platform for renewable transportation fuel globally, it is currently making advances into the RCM industry through its newly launched Bio-Prism^TM portfolio, and is developing technologies to produce RCM from bio based feedstocks, which are sustainable alternatives to products made from fossil resources.

To bring this reaffirmed vision of developing & deploying environment friendly and sustainable solutions to make the world a better place into reality, the company has technical collaborations with renowned global organization, furthermore, it entered into an overarching MoU with National Chemical Laboratory (NCL) for jointly working on promising project opportunities in the RCM domain.

The chemical industry worldwide is today evaluated at US $ 25 trillion annually. Currently the RCM industry worldwide is estimated to have reached US $ 65 billion and over a decade, is likely to cross around US $200 billion at a 11-12% CAGR. The Asian market is presently pegged at around US $ 25 billion. 

Expressing on the side-lines of ABLC 2020 Digital, Dr Pramod Chaudhari, Executive Chairman, Praj Industries Ltd, said, “Praj pole-vaults into a league of select companies worldwide that are configuring the RCM landscape, with the launch of the Bio-Prism portfolio. Together with Bio-mobility, Bio-Prism becomes another mainstay of Praj’s contribution to the global Bio economy. Over past 3 decades we have developed deep insights and expertise at our R&D facility, Praj Matrix, in processing diverse range of bio-based feedstocks. Our stride in RCM is the result of exclusive work in molecular biology, microbiology, fermentation and chemical synthesis.” Depicting RCM project as “Nature Reimagined – The Promise of Sustainability”, he further added that Praj is open to exploring newer business models with strategic partners.

For more information: www.praj.net