True Green Bio Energy Limited , formerly known as CIL Nova Petrochemicals Ltd., has announced the successful commencement of commercial operations at its new 300 KLPD (Kilo Liters Per Day) grain-based ethanol plant in Ahmedabad, Gujarat. This strategic move positions the company to capitalize on the growing demand for ethanol in India's energy sector.

Key Highlights

• Plant Capacity: 300 KLPD grain-based ethanol production
• Location: Ahmedabad, Gujarat
• Commercial Operations: Successfully commenced

Major Clients

The company has secured agreements to supply ethanol to several prominent oil and energy companies in India. The list of clients includes:

This diverse client base, comprising some of India's largest oil and gas companies, suggests a strong demand for True Green Bio Energy's ethanol production.

Regulatory Compliance

The company made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure underscores True Green Bio Energy's commitment to transparency and adherence to regulatory standards.

Industry Implications

The launch of this ethanol plant aligns with India's push towards increasing the use of biofuels in the transportation sector. Ethanol blending in petrol is seen as a strategy to reduce the country's dependence on fossil fuel imports and decrease carbon emissions.

The commencement of operations at this new plant may potentially impact the domestic ethanol market, contributing to the supply side of the equation. It remains to be seen how this additional capacity will influence ethanol prices and the broader biofuel industry in India.

As True Green Bio Energy Limited embarks on this new venture, stakeholders will be keenly watching its performance and the potential impact on the company's financial results in the coming quarters.

True Green Bio Energy Limited (BSE: TRUEGREEN) has issued a correction regarding the appointment of Mr. Suresh Chatterjee as an Additional Director in the capacity of Independent Director. The company has revised the term of appointment, demonstrating its commitment to accurate corporate governance disclosures.

Revised Appointment Details

The Board of Directors of True Green Bio Energy Limited has approved the appointment of Mr. Suresh Chatterjee (DIN: 03565196) for a five-year term, now set from August 15, 2025, to July 31, 2030. This corrects the previously announced period of August 12, 2025, to August 11, 2030. The appointment remains subject to shareholder approval at the upcoming general meeting.

Profile of Mr. Suresh Chatterjee

Mr. Chatterjee brings a wealth of experience to the True Green Bio Energy board:

• 25 years of senior-level experience in public financial institutions and the private sector
• Expertise in chemical engineering, coupled with strong financial acumen and legal knowledge
• Proven track record in managing business growth, risk management, and providing strategic guidance
• Previous experience as a Nominee Director on boards of several large companies

Regulatory Compliance and Independence

In line with regulatory requirements, True Green Bio Energy has confirmed that:

• Mr. Chatterjee has no inter-se relations with other Board members
• He is not debarred from holding a directorship by any regulatory authority, including SEBI

Corporate Governance Transparency

Jyotiprasad Devkinandan Chiripal, Director of True Green Bio Energy Limited, signed the corrected announcement, which was filed with the BSE Limited on August 14, 2025. This prompt correction underscores the company's dedication to maintaining transparency and accuracy in its corporate communications.

Financial Results Publication

In a separate announcement, True Green Bio Energy Limited informed the BSE about the publication of its unaudited financial results for the quarter ended June 30, 2025. The results were published in the Indian Express (English Edition) and Financial Express (Gujarati Edition) on August 13, 2025, further demonstrating the company's commitment to keeping shareholders and the public informed about its financial performance.

True Green Bio Energy's proactive approach in rectifying the appointment dates and ensuring timely financial disclosures reflects positively on its corporate governance practices, which is crucial for maintaining investor confidence in the bio energy sector.