Taurus Energy and IndianOil Corporation initiate collaboration on biofuels
Taurus Energy AB, a Swedish bioprocess portfolio developer, and IndianOil Corporation Ltd (IOCL) have announced a collaborative project in pento-fermentation for the production of second-generation ethanol for use in biofuels. Within the framework of the collaboration, IOCL will evaluate Taurus Energy's pentose-converting yeast "XyloFerm" in order to be able to make better use of cellulose-derived sugar from agricultural residues in India.
IOCL is India’s largest public national oil company with business interests along the entire hydrocarbon value chain. IOCL has recently decided to invest in second-generation biofuels and has begun the construction of three biorefineries in India in which lignocellulosic biomass will be used to produce bioethanol.
These investments are due to the Government of India’s political decision from 2018 to achieve a 20 percent blend of biofuels in the national fuel reserve by 2030.
Taurus Energy has been selected as a technology partner in the project through workshops led by Business Sweden, an agency commissioned by the Swedish government and industry to help Swedish companies grow global sales and international companies invest and expand in Sweden.
Taurus Energy has now entered into an agreement under which XyloFerm’s technical capacity will be evaluated.
We are very pleased to have entered into this agreement with the IOCL. The collaboration is a clear indication of XyloFerm’s capacity and our knowledge as an organization. We believe that the collaboration will benefit both parties, where Taurus Energy’s expertise and its own yeast strains can actively support IOCL’s investment in sustainable and environmentally friendly development. We see this as an important milestone for green energy and an excellent opportunity for Taurus to show what we can do, said Fredrik Weschke, CEO of Taurus Energy.