CBG is a complementary renewable transportation fuel to compressed natural gas (CNG).
Praj Industries shares rallied 9 percent intraday to hit a 52-week high of Rs 150 on Friday after the company expanded its bio-energy basket by adding compressed bio-gas (CBG) technology.
The company announced ground-breaking of integrated demo plant of CBG, which is operational since past three years, near to its Shreenath Mhaskoba Surgar Factory.
Praj said it unveiled roadmap for commercialisation of CBG technology and reaffirmed its readiness by way of required infrastructure to execute multiple CBG plants with advanced technology and designs.
In October 2018, the government released 'sustainable alternative towards affordable transportation' (SA TAT) policy which envisages implementation of 5,000 compressed bio-gas plants in the next 5 years.
CBG is a complementary renewable transportation fuel to compressed natural gas (CNG).
"Praj's demo plant is first of its kind integrated CBG plant in the country. This flexible and highly instrumented plant will test, improve and optimise production of CBG from different feedstock such as biomass, press mud, variety of agri waste, paper mill pith etc," Praj said.
Praj provides solutions for bioenergy, ethanol plant, and breweries & industrial wastewater treatment.
At 11:25 hours IST, the stock was quoting at Rs 148.50, up Rs 10.80, or 7.84 percent on the BSE.
