Under the agreement, Praj will lead the commercialization of Bio-IBA technology in India, with exclusive rights to deploy the technology in the country.

The partnership will focus on developing commercial opportunities for Bio-IBA, with primary emphasis on diesel blending applications that have the potential to reduce the carbon intensity of one of the world’s most widely used transportation and industrial fuels.

In a separate development aligned with the broader objective of advancing Bio-IBA adoption, Praj is currently establishing India's first commercial Bio-IBA demonstration plant for a leading oil marketing company (OMC).

The project is being designed, engineered, supplied and erected by Praj based on Gevo's licensed bio-IBA technology.

The demonstration plant is expected to play an important role in validating production, supply chain and market-development pathways for future commercialization opportunities in India.

Bio-IBA presents a promising opportunity for reducing the carbon footprint of diesel across a wide range of applications, including transportation, agriculture, mining, construction and industrial operations.

Given India's large diesel economy and abundant renewable feedstock resources, Bio-IBA has the potential to become an important component in the country's transition towards lower-carbon fuels.

Paul Bloom, chief executive officer, Gevo: 'This agreement marks an important milestone in our relationship with Praj and in the advancement of Bio-IBA in India. Gevo brings proven renewable isobutanol technology and commercialization experience, while Praj contributes deep expertise in engineering, deployment and market development. Together, we are creating a framework to unlock new opportunities for Bio-IBA, particularly in diesel applications, while supporting broader decarbonization objectives.'

Praj Industries operates across three key business segments: bioenergy, hi-purity systems and engineering. The Bioenergy business focuses on process design, engineering, fabrication and commissioning of ethanol plants and. Hi-Purity Systems provides solutions for high-purity process applications. The Engineering business comprises water and wastewater treatment, critical process engineering and brewery plants and equipment, serving industries including oil & gas, petrochemicals, fertilisers, chemicals and brewing.

The company had reported 117.42% increase in consolidated net profit to Rs 11.61 crore on a 11.81% rise in revenue to Rs 715.82 crore in Q1 FY27 as compared with Q1 FY26.

The scrip fell 1.20% to currently trade at Rs 314.15 on the BSE.