Praj Industries’ Founder Chairman, Dr Pramod Chaudhari, held a press briefing to mark the company’s 40th year in the industry and to discuss their business growth and social commitment initiatives. During the briefing, Dr Chaudhari emphasised the importance of sustainable development and the need to combat climate change. He highlighted the losses suffered by the insurance industry due to climate change and the potential of the bioeconomy to provide sustainable climate actions.
Praj Industries is developing sustainable solutions in the form of Renewable Chemicals and Materials (RCM). The company has developed technology to produce bioplastics, such as Polylactic Acid (PLA), as part of its Bio-PrismTM portfolio. It is setting up a demo plant for PLA in Jejuri. Praj is also working on Sustainable Aviation Fuels (SAF) and has entered into a MoU with Axens of France for building SAF projects.
To address the opportunities arising from Energy Transition and Climate Actions (ETCA), Praj is setting up a new subsidiary for the most modern manufacturing facility with an investment of Rs. 100 crores. The company is also launching a comprehensive Transformation program and engaging BAIN & Co, a top-tier management consulting firm, to develop a strategic blueprint to ensure sustainable growth.
Praj Industries has a rich legacy of leadership in the global bioeconomy. The company is committed to securing new opportunities in the industry while making strategic investments to enhance their delivery capabilities. The company has undertaken a project to create a model Net Zero and Climate Resilient village at Mandede in Mulshi taluka near Pune as part of their social commitments.