The MoU will act as a road map for the first bio-refinery project in India and will also see both companies cooperating on constructing bio-refineries across the country preferably in areas of Uttar Pradesh, Punjab, Haryana, Maharashtra, Karnataka and Gujarat.
Chempolis said that its third generation bio-refining technology will produce biofuels as well as sugars and lignin, which can be used as a platform into different products, in a sustainable way.
Chempolis Asia Pacific and Americas president Pasi Rousu said that India, which has a huge biomass potential, has taken a mandate to promote the biofuel industry.
"In addition, Indian companies already have a long tradition to utilize residual biomass from agriculture, especially combustion of sugarcane bagasse and production of electricity.
"The country also has existing production of bioethanol and related infrastructure. Indian agriculture produces huge volumes of residues that are largely not utilized," added Rousu.
