Fri Nov 22 13:50:00 UTC 2024: ## Praj Industries Aims to Triple Revenue by 2030, Riding the Green Energy Wave

**MUMBAI, INDIA** – Praj Industries, a leader in biofuels and technology solutions, announced ambitious plans Friday to triple its revenue by 2030, driven by expansion into sustainable aviation fuel (SAF), biopolymers, and the burgeoning energy transition and climate action (ETCA) sector.

Addressing a press conference, Dr. Pramod Chaudhari, along with Praj’s President of Bioenergy Business and President of Technology, highlighted the company’s strategic focus on capitalizing on global clean energy investment projected at nearly ₹25 lakh crore (approximately $300 billion USD) by 2030. This includes significant investment in areas like blue and green hydrogen, green ammonia, and waste-to-energy solutions.

To meet the anticipated demand, Praj has invested approximately ₹400 crore (approximately $48 million USD) in a new advanced manufacturing facility in Mangalore, Karnataka. This 123-acre plant is expected to generate annual revenue between ₹2,000 and ₹2,500 crore (approximately $240 million to $300 million USD) at full capacity.

Currently boasting annual revenues of ₹3,400 crore (approximately $408 million USD), Praj aims to reach ₹10,000 crore (approximately $1.2 billion USD) by 2030. The company also projects a significant increase in export contributions, from 29% to 50% of total revenue within the same timeframe.

Following the announcement, Praj Industries’ stock price surged 9.7% in intraday trading. The company’s long-term growth strategy focuses on its innovative solutions across various sectors, including biofuels, biomaterials, and water treatment systems. This expansion is expected to solidify Praj’s position as a key player in India’s bioeconomy and the global green energy transition.

**(Note: Information regarding DSIJ and its investment services has been excluded from this news article as it is unrelated to Praj Industries’ announcement.)**

Read More