Thyssenkrupp Industries India, whose German parent had recently divested most shares in the company, expressed its intention to enter the sustainable aviation fuel (SAF) sector as part of its new business strategy under Indian ownership. Vivek Bhatia, the managing director, mentioned that the capital goods company was in the process of finalising partners for the SAF initiative. He stated that they aimed to actively participate in the market within the next 12?18 months.
Bhatia explained that their venture would involve "rebranding and reimagining its sugar business into a sugar and biochemicals business." He further indicated, "We want to explore ethanol, bio-CNG, lactic acids, polylactic solutions, and eventually SAF. Our goal is to utilise sugar-associated biomass and other biomass to contribute to the industry's green transformation."
SAF, an alternative fuel derived from non-petroleum sources that reduces emissions from air travel, has seen significant adoption by global markets and airlines like Qantas. Bhatia noted that while India was still in its early stages of SAF adoption, the country was developing a plan for its integration into aviation fuel. Jyotiraditya Scindia, the aviation minister, recently mentioned India's goal for 1-5% of commercial flights to use SAF by 2027.
In addition to these plans, Indian Oil Corporation is collaborating with LanzaJet and domestic airlines to establish a SAF production facility using alcohol-to-jet technology at IOC's refinery in Panipat, Haryana, at an estimated cost of Rs 30 billion.
Thyssenkrupp Industries India, previously an industrial equipment provider under German ownership, completed the sale of its Indian industrial business on May 8. The majority stake, previously held by Thyssenkrupp Germany, was acquired by existing co-shareholders Paharpur Cooling Towers and Protos Engineering Co.
