New Delhi: Trueault Bioenergy, one of the largest biofuel players, plans to increase its capacity by 2.7 lakh liters per day by the next financial year and will invest around Rs 600 crore to set up more plants.
The Bengaluru-based company is also expecting around 30 per cent revenue growth this financial year.
TruAlt is mainly into biofuels such as 1G ethanol, 2G ethanol, compressed biogas, sustainable aviation fuel, fermented organic fertilizer and green hydrogen.
It operates five 1G ethanol units with a capacity of 2 million liters per day, making it the largest ethanol producer in the country while its compressed biogas capacity is 10 tonnes per day.
“We plan to increase our biofuel capacity to 2.7 lakh tonnes per day. We will set up 10 more plants, taking our total to 15 and we envisage an investment of about Rs 600 crore in this direction and these The plants will come up in Karnataka’s Bijapur and Pune and should be commissioned in the next financial year,” Vijay Nirani, founder and managing director of TrueAlt, told PTI. He added that land for these plants has already been identified.
TurAlt extension streak
The company also has existing plants in Bijapur and Pune. Its revenue in the last financial year was Rs 1,170 crore, but in the first half of this financial year it has reached almost Rs 700 crore. And Nirani expects at least 30 per cent topline growth this financial year and around 18-20 per cent net margin.
Recently, TurAlt entered into a US$72 million compressed biogas joint venture with national gas major GAIL India to set up 10 plants with a targeted production of over 33 million kg of compressed biogas using organic waste as raw material. Had entered.
GAIL will hold 49 percent stake in the joint venture called Lefinti Bioenergy and Truelt will hold the remaining 51 percent. The investment is a mix of debt and equity, subject to due diligence and regulatory approval.
Each plant will process 10,000 kg organic waste per day and produce 1,00,000 kg compressed biogas. Solid fermented organic fertilizer and liquid fermented organic fertilizer will also be produced through this initiative.
Nirani said the massive expansion is due to two reasons – the plants are running at more than 90 per cent capacity and secondly, due to the massive increase in demand as the government is pushing for ethanol blending and other biofuels.
He also said that the next growth markets are his home state Karnataka, Maharashtra and Odisha.
On the sustainable aviation fuel scheme, he said the company, which is wholly owned by him and his family, has already entered into non-disclosure agreements with some airlines.