Indian Oil to form JV with EverEnviro Resource Management
Indian Oil has partnered with EverEnviro Resource Management to form a 50:50 joint venture focused on advancing biofuel adoption across India. The venture will convert organic waste into Compressed Biogas (CBG), promoting renewable energy and reducing greenhouse gas emissions. This initiative supports Indian Oil’s Net Zero goal by 2046, enhancing energy security and creating rural employment opportunities.
To focus on advancing biofuel adoption in India, Indian Oil as entered into a Joint Venture Agreement with EverEnviro Resource Management, a leading biofuels company in the country. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.
The joint venture will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels. By leveraging their combined expertise, IndianOil and EverEnviro aim to accelerate the deployment of CBG plants nationwide.
These initiatives complement IndianOil’s long-term low-carbon development strategy and achievement of operational Net Zero goal by 2046, which will also help in achieving the Net-Zero target for India by the year 2070. CBG offers numerous benefits to India and the environment. For the country, it promotes energy security by reducing dependence on imported fossil fuels and supports the rural economy by creating local employment opportunities.
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