Praj Industries rose 6.19% to 350.10 rupees after developing innovative technology to produce lignin-based bio-bitumen.
The Netherlands-based Circular Biobased Delta (CBBD) has approved the company’s bio-bitumen samples, processed from purified lignin, as part of its flagship CHAPLIN program.
Lignin is one of the by-products of the 2nd generation ethanol plants, paper production and also the plants for compressed biogas. Bitumen is a black viscous mixture of hydrocarbons that is produced by fractionating crude oil and is widely used in road construction and on roofs as a binding agent.
The company has developed a proprietary process (patented) to convert the raw lignin into biobitumen, which can replace this fossil-based bitumen and offer environmentally friendly green bitumen. The binding and viscoelastic properties of bio-bitumen make it useful for asphalt applications.
After thorough evaluations and studies in their advanced laboratories, CBBD has approved the company’s bio-bitumen sample for augmentation in asphalt on a Dutch test strip on the street.
After successful tests of the pilot lane in the Netherlands, the use of bio-bitumen as an environmentally friendly building material will open a new chapter with great application potential in the bioeconomy, the company said.
Praj Industries’ consolidated net income rose 109.2% to Rs.52.01 billion, after net sales increased 91.4% to Rs.567.10 billion in the fourth quarter of FY 21 compared to the fourth quarter of FY 20 .
Praj Industries is an engineering company with a bouquet of sustainable solutions for bioenergy, compressed biogas, critical process equipment and vats, breweries, industrial wastewater treatment and ultrapure water.
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(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)
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