Praj Industries has achieved a significant breakthrough in sustainable aviation fuel technology by successfully demonstrating its Ethanol-to-Jet (EtJ) process at its fully integrated Sustainable Aviation Fuel demonstration plant at Praj Matrix, the company's R&D centre. The announcement was made at Wings India 2026 on January 29, 2026, marking a crucial milestone in the global transition to low-carbon aviation fuels.

Technology Demonstration and Partnership

The demonstration utilized Axens Jetanol™ technology, showcasing the successful conversion of bio-ethanol into sustainable aviation fuel. This achievement follows the plant's earlier successful demonstration using bio-isobutanol as feedstock, further strengthening Praj's feedstock-to-SAF technology portfolio versatility.

Axens, a global provider of process technologies for cleaner fuels, has been Praj's strategic partner in advancing SAF through the AtJ route. The collaboration integrates Axens' proven technology with Praj's engineering and project execution capabilities.

Industry Recognition and Global Positioning

The announcement was made by Mr. Maneesh Kumar, Joint Director General, Directorate General of Civil Aviation, in the presence of Mr. Faiz Ahmed Kidwai, Director General, DGCA, as part of a roundtable on SAF chaired by Mr. Samir Kumar Sinha, Secretary, Ministry of Civil Aviation. Representatives from both companies, including Mr. Atul Mulay, President Bioenergy Business from Praj, and Mr. Siddharth Saha, MD Axens India, participated in the announcement.

This breakthrough positions Praj as the first company globally to offer a fully integrated, end-to-end technology and engineering solution for the Alcohol-to-Jet pathway, encompassing both isobutanol and ethanol feedstocks. The technology is validated at demo-plant scale and ready for commercial deployment.

Market Opportunity and Industry Collaboration

According to the International Air Transport Association (IATA)'s Net Zero Roadmaps, global SAF demand will exceed 500 million tonne (600 billion liters). The demonstration supports India's significant SAF production potential, with assessments indicating the AtJ pathway presents the largest SAF opportunity for the country.

The importance of coordinated industry action has been reinforced through a Memorandum of Understanding between Praj Industries, IATA, and the Indian Sugar & Bio-Energy Manufacturers Association (ISMA) to drive SAF certification and adoption in India.

Leadership Perspectives

Dr. Pramod Chaudhari, Founder Chairman of Praj Industries, emphasized the company's commitment to advancing science-led, scalable solutions supporting aviation sector decarbonisation. He highlighted Praj's positioning to support Oil Marketing Companies and ethanol producers through flexible deployment models, including bolt-on solutions and greenfield projects.

Quentin Debuisschert, CEO and Chairman of Axens, noted that the successful demonstration represents an important milestone for the SAF value chain, combining Praj's engineering capabilities with Axens' proven technologies to accelerate reliable and scalable ETJ solutions deployment.

Previous Achievements and Future Outlook

Praj has previously demonstrated real-world SAF deployment in India, supporting the country's first commercial passenger flight powered by SAF-blended aviation turbine fuel. An AirAsia India flight operated from Pune to New Delhi using indigenously produced SAF supplied by Praj Industries in collaboration with Indian Oil.

The demonstration enables conversion of ethanol into drop-in sustainable aviation fuel fully compatible with existing aircraft engines and aviation infrastructure, marking a significant step toward accelerating the global transition to low-carbon aviation. With proven technology, policy momentum, and industry collaboration, this milestone reinforces the pathway toward scalable SAF adoption and cleaner aviation solutions globally.

Praj Industries completed a significant inter-se share transfer within its promoter group on December 9, 2025. The transaction involved the transfer of shares from Moriyaset Trust to Dr. Pramod Chaudhari, executed as part of the dissolution of Moriyaset Trust, which was previously part of the promoter group.

Transaction Details

The company disclosed the share transfer through its regulatory filing dated December 18, 2025. The key parameters of the transaction are outlined below:

Impact on Shareholding Structure

The inter-se transfer resulted in a redistribution of ownership within the promoter group, with Dr. Pramod Chaudhari's stake increasing significantly:

Following the transaction, Dr. Pramod Chaudhari will hold 4,59,00,000 shares across two Demat accounts. The company emphasized that the aggregate holding of the promoter and promoter group remains unchanged despite this internal restructuring.

Regulatory Compliance and SEBI Filing

Praj Industries confirmed that this inter-se transfer falls within the exemption under Regulation 10(1)(a)(ii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company made the required disclosure on December 2, 2025, well within the specified timeline.

The transaction complies with multiple SEBI regulations, including Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 3 of SEBI (Prohibition of Insider Trading) Regulations, 2015. The company has submitted all necessary documentation to both BSE and NSE, demonstrating its commitment to regulatory transparency and compliance standards.

SEBI Payment and Documentation

The regulatory filing revealed comprehensive SEBI compliance details:

Dr. Pramod Chaudhari's contact details were provided as part of the SEBI filing, with his address listed as Kinnari, 6, Vee Nimbkar Housing Society, 80/4, Baner Road, Aundh, Pune-411007. The filing confirmed that the report was submitted to SEBI within 21 working days from the date of acquisition and was accompanied by the required fees.

Company Share Capital Structure

The regulatory filing revealed the complete share capital structure of Praj Industries:

The disclosure was filed by Company Secretary and Compliance Officer Anant Bavare, ensuring proper corporate governance protocols were followed throughout the transaction process. The company confirmed that both the acquirer and seller have been named promoters in the shareholding pattern filed under the listing agreement.