IndianOil, PetroAlgae partner to boost bio-diesel production
New Delhi   29-Oct-2009
IndianOil signed a Memorandum of Understanding (MoU) with PetroAlgae (PA LLG), USA, to bring algal technology to India that will enable large-scale production of biodiesel in the future. Senior officials of IndianOil including Mr. B. M. Bansal, Director (P&BD) and Mr. Anand Kumar, Director (R&D) were present on this occasion. PA was represented by their CEO, Mr. Ottmar Dippold and Mr. Fred Tennant, Executive Vice-president. IndianOil are the first petroleum major from India to take a step in this direction. Over the past decade, the major focus of the biofuels market has been on conventional feedstock like Jatropha and Pongamia. However, issues like the food v/s fuel debate and productivity have prompted worldwide research into alternate feedstock. These R&D efforts have established algae to have immense potential in this regard with projections of up to 20 times the output a conventional crop can give. In addition, the technology has the potential to be coupled to power plants & refineries to sequester carbon from flue gases. A hi-value protein that can be used as animal feed is also obtained as by-product.