HomeRenewable energy ›IndianOil to Form JV with EverEnviro Resource Management to Advance Biofuel Adoption

IndianOil to Form JV with EverEnviro Resource Management to Advance Biofuel Adoption

IndianOil has entered a 50:50 joint venture with EverEnviro Resource Management to accelerate biofuel adoption in India, focusing on converting organic waste into Compressed Biogas (CBG) to promote sustainability and reduce greenhouse gas emissions.

October 15, 2024. By Mrinmoy Dey

IndianOil has recently entered into a joint venture agreement with biofuels company EverEnviro Resource Management to form a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.

The joint venture will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels. By leveraging their combined expertise, IndianOil and EverEnviro aim to accelerate the deployment of CBG plants nationwide.

The agreement was signed by Dr. Santanu Gupta, Executive Director (Alternative Energy), IndianOil and Mahesh Girdhar, MD and CEO of EverEnviro in the presence of IndianOil dignitaries N Senthil Kumar, Director (Pipelines) holding additional charge of Director (P&BD), Alok Sharma, Director (R&D) and Arvind Kumar, Director (Refineries). Pravin Dongre, ED (Sustainable Development), IndianOil and Deepak Agarwal, ED, EverEnviro were also present besides other senior officials from both the organisations.

CBG offers numerous benefits to India and the environment. For the country, it promotes energy security by reducing dependence on imported fossil fuels and supports the rural economy by creating local employment opportunities.

These initiatives complement IndianOil’s long-term low-carbon development strategy and achievement of the operational Net Zero goal by 2046, which will also help in achieving the net zero target for India by the year 2070.
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