Punjab-based Beckons Industries Ltd is planning to set up a bio-diesel plant using algae as a feedstock at Derabassi (Punjab) at an investment of Rs 60 crore. The plant will be the first of its kind in this part of the region. For the purpose, the company has technological collaborative agreement with Austria-based company Energia and also an agreement with Germany-based GTZ for carbon credits.
Besides, the company is also planning to raise Rs 50 crore through GDR issue. The money raised would be utilised for diversification and expansion. It has plans to set up multi-product pilot-cum-production unit for genetically engineered biotherapentics with foreign collaborators. Besides, it has plans to explore other areas of renewable energy.
Speaking to Business Standard, Beckons Industries Ltd managing director, Gurmeet Singh said, “ Algae oil is an excellent feedstock for bio-diesel and there is a big demand in India and outside India for existing bio-diesel plants. Bio-diesel plants all over the world are having shortage of feedstock (oil). Further, oil from algae has a high component of unsaturated fatty acids. This makes algae oil much desired feedstock for manufacturing of bio-diesel and bio-jet fuel with low cold filter plugging point property. Carbohydrate from algae is free of cellulose and can be converted into bio-ethanol by yeast fermentation.”
He added, “ We have chosen a strain of dunaliella marine algae out of several tens of thousands of algae and adopted it by directed molecular evolution to withstand high temperature and high solar IR.” The company plans to set up demo unit and algae seed laboratory of Delhi University’s bio-tech centre for which an agreement has already been signed between the company and DU. It also plans to set up pilot plant for power company or cement plant.
Commenting upon future plant, the MD added, “We are planning to put up next, a demo and pilot plant using flue gases emitted from coal burning and eventually a commercial plant alone or jointly with a flue gases emitter (power plant or an industry).
He added,”Already NTPC has approached the company to set up pilot project at its Dadri unit, once our validation stage is completed successfully at DU. We are also in touch with several cement companies to set up similar kind of plants at their respective sites,”he added.
“We are planning to raise Rs. 50 crore through GDR Issue. Global Depository Receipts (GDRs) for mobilising the funds for the expansions and further development of existing products/technologies and setting up/acquisition of new projects,” he added.
