Praj and Gevo Forge Landmark Alliance to Advance Bio-IBA in India

Gevo grants Praj exclusive rights to commercialize Bio-IBA in India, backed by the country’s first commercial Bio-IBA demonstration plant for diesel blending.

Rhea-AI Summary

Gevo (GEVO) and Praj Industries signed a Development & Commercialization Agreement for Bio-Isobutanol (Bio-IBA) technology in India on Sept. 16, 2026.

Under the agreement, Praj will lead commercialization and hold exclusive rights to deploy Gevo’s Bio-IBA technology in India, initially targeting diesel blending to reduce the carbon intensity of one of the country’s largest fuel segments. The collaboration builds on more than a decade of joint work adapting Bio-IBA to Indian sugar- and starch-based feedstocks.

Praj is also establishing India’s first commercial Bio-IBA demonstration plant for a leading Oil Marketing Company, designed, engineered, supplied and erected using Gevo’s licensed technology. The plant is expected to validate production, supply-chain and market-development pathways supporting future commercial projects.

India consumed about 94.7 million tonnes (29.7 billion US gallons) of high-speed diesel in FY2025-26, and multiple industry stakeholders are pursuing Bio-IBA-based diesel blending solutions.

Positive

• Praj gains exclusive rights to deploy Gevo’s Bio-IBA technology in India under the Development & Commercialization Agreement.
• First commercial Bio-IBA demonstration plant in India is being built by Praj for a leading Oil Marketing Company using Gevo-licensed technology.
• Large target market: India consumed about 94.7 million tonnes (29.7 billion US gallons) of high-speed diesel in FY2025-26.

Negative

• None.

Market Context

At publication, GEVO was down 1.26% pre-headline while AMTX, LOOP, and LWLG also declined; the mixed...

Analysis

At publication, GEVO was down 1.26% pre-headline while AMTX, LOOP, and LWLG also declined; the mixed peer tape provided broader market context for the India Bio-IBA commercialization announcement.

Key Figures

India commercialization rights: Exclusive rights Commercial demonstration plant: India's first Company association: More than a decade +1 more

India commercialization rights

Exclusive rights

Praj's deployment of Bio-IBA technology in India

Commercial demonstration plant

India's first

Bio-IBA demonstration plant for a leading Oil Marketing Company

Company association

More than a decade

Praj-Gevo Bio-IBA technology relationship

High-speed diesel consumption

94.7 million tonnes (29.7 billion US gallons)

India FY2025-26

Key Terms

bio-isobutanol, sustainable aviation fuel, carbon intensity, forward-looking statements

4 terms

bio-isobutanol technical

"Development & Commercialization Agreement for Bio-Isobutanol (Bio-IBA) technology"

A fermentation-derived form of isobutanol made from renewable biological feedstocks (like sugars or plant waste) rather than petroleum. It is a three-carbon alcohol used as a fuel blend component, industrial solvent and chemical building block; think of it as a bio-based alternative to traditional gasoline additives and petrochemical feedstocks. Investors care because its production and adoption affect companies in biofuels, chemicals and materials through market demand and regulatory incentives.

sustainable aviation fuel technical

"Bio-IBA also serves as a platform molecule for the production of Sustainable Aviation Fuel"

Sustainable aviation fuel is a low‑carbon replacement for conventional jet fuel made from renewable sources (like plant residues, waste oils, or captured carbon) but refined to meet the same safety and performance rules as regular jet fuel. Investors care because SAF can lower airlines’ carbon footprints and exposure to tightening regulations, create new supply and cost dynamics in the fuel market, and drive long‑term demand shifts — like using cleaner fuel in the same airplane.

carbon intensity technical

"applications that have the potential to reduce the carbon intensity"

Carbon intensity measures how much greenhouse gas a company, product, or activity produces for each unit of output — for example per unit of product made, per megawatt-hour of electricity, or per dollar of revenue. Think of it like miles per gallon but for emissions: lower numbers mean less pollution for the same activity. Investors watch it because higher carbon intensity can signal increased regulatory costs, shifting customer demand, and higher risk of assets losing value as economies move toward cleaner energy.

forward-looking statements regulatory

"Certain statements in this press release may constitute “forward-looking statements”"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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The agreement strengthens India's pioneering efforts to develop Bio-IBA as a renewable blending solution for decarbonizing one of the world's largest diesel markets.

ENGLEWOOD, Colo and PUNE, India, Sept. 16, 2026 (GLOBE NEWSWIRE) -- Praj Industries and Gevo, Inc. (NASDAQ: GEVO) today announced the signing of a Development & Commercialization Agreement for Bio-Isobutanol (Bio-IBA) technology in India, reinforcing their long-standing association to advance sustainable low-carbon fuel solutions.

Under the agreement, Praj will lead the commercialization of Bio-IBA technology in India, with exclusive rights to deploy the technology in the country. The partnership will focus on developing commercial opportunities for Bio-IBA, with a primary emphasis on diesel blending applications that have the potential to reduce the carbon intensity of one of the world’s most widely used transportation and industrial fuels.

The agreement builds upon more than a decade of association between the two companies to adapt, develop and advance Bio-IBA technology for Indian feedstocks and market requirements. Praj’s deep understanding of India’s sugar- and starch-based feedstocks, its expertise in engineering, project execution, scale-up and market development, combined with Gevo’s Bio-IBA technology, will support its scale-up and commercial adoption in India.

In a separate development aligned with the broader objective of advancing Bio-IBA adoption, Praj is currently establishing India's first commercial Bio-IBA demonstration plant for a leading Oil Marketing Company (OMC). The project is being designed, engineered, supplied and erected by Praj based on Gevo's licensed Bio-IBA technology. The demonstration plant is expected to play an important role in validating production, supply-chain and market-development pathways for future commercialization opportunities in India.

Bio-IBA presents a promising opportunity for reducing the carbon footprint of diesel across a wide range of applications, including: transportation, agriculture, mining, construction and industrial operations. Given India's large diesel economy and abundant renewable feedstock resources, Bio-IBA has the potential to become an important component in the country's transition towards lower-carbon fuels. According to Petroleum Planning & Analysis Cell (PPAC), India consumed approximately 94.7 million tonnes (29.7 billion US gallons) of high-speed diesel in FY2025-26.

Encouragingly, stakeholders across the value chain, including fuel producers, vehicle and equipment manufacturers, research institutions and end users, are actively working towards enabling Bio-IBA-based diesel blending in India. Multiple initiatives aimed at technology validation, application development, regulatory assessment and supply-chain preparedness are progressing in parallel, reflecting growing industry interest in bringing diesel blending solutions to commercial reality.

"This agreement marks an important milestone in our relationship with Praj and in the advancement of Bio-IBA in India,” said Gevo Chief Executive Officer Paul Bloom. “Gevo brings proven renewable isobutanol technology and commercialization experience, while Praj contributes deep expertise in engineering, deployment and market development. Together, we are creating a framework to unlock new opportunities for Bio-IBA, particularly in diesel applications, while supporting broader decarbonization objectives."

"Our collaboration with Gevo has steadily evolved through technology development, application innovation and market-building efforts over the years,” said Dr. Pramod Chaudhari, Founder Chairman, Praj Industries. “This Development & Commercialization Agreement establishes a strong foundation for bringing Bio-IBA to the Indian market. We believe Bio-IBA has the potential to emerge as an important renewable fuel solution for the diesel economy, complementing India's broader energy transition and sustainability goals."

Beyond diesel applications, Bio-IBA also serves as a platform molecule for the production of Sustainable Aviation Fuel (SAF) and other renewable chemicals, further highlighting its versatility and expected long-term strategic importance within the emerging bioeconomy.

About Praj: 

Praj Industries Limited is a global biotechnology and engineering company driven by innovation, integration and delivery capabilities. Over the past four decades, Praj has been enabling the transition to a sustainable future through solutions across the Bioeconomy, Energy Transition and Industrial Infrastructure. With over 1,000 customer references in more than 100 countries across six continents, Praj has established itself as a trusted global technology and engineering partner.

Bio-Mobility^® and Bio-Prism^® are the cornerstones of Praj's contribution to the global Bioeconomy. The Bio-Mobility^® platform offers technology solutions for the production of renewable transportation fuels, supporting sustainable decarbonization through a circular bioeconomy. The Bio-Prism^® portfolio comprises technologies for renewable chemicals and materials that advance sustainability while reimagining nature.

Praj Matrix, the Company's state-of-the-art research and development centre, drives the development of next-generation technologies for clean energy, renewable fuels, chemicals and materials.

The Company's wholly owned subsidiaries further strengthen its capabilities across high-growth sectors. Praj GenX delivers advanced manufacturing, modular process systems and critical process equipment for industries including oil & gas, advanced biofuels, sustainable aviation fuel (SAF), hydrogen, carbon capture and mission-critical digital infrastructure, including hyperscale data centers. Praj HiPurity Systems provides high-purity process systems and turnkey solutions for the pharmaceutical, biotechnology, healthcare and allied industries.

Praj's diversified portfolio spans Bio-energy solutions, Critical Process Equipment & Modular Systems, High Purity Systems, Industrial Wastewater Treatment, Zero Liquid Discharge (ZLD) solutions, Breweries and emerging engineering solutions for global infrastructure markets. Guided by purpose-driven leadership and a commitment to sustainability, Praj continues to create value for customers, communities and stakeholders worldwide.

Praj Industries Limited is listed on the BSE Limited and the National Stock Exchange of India Limited (NSE).

About Gevo

Gevo is pioneering low-carbon solutions with cost-effective, drop-in fuels that contribute to energy security, abate carbon and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including SAF, motor fuels, chemicals, and other materials. Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates an ethanol plant with an adjacent carbon capture and storage (CCS) facility and Class VI carbon-storage well. Gevo also owns and operates one of the largest dairy-based renewable natural gas (RNG) facilities in the United States, turning by-products into clean, reliable energy.

For more information, please go to www.gevo.com.

Gevo Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including Gevo’s isobutanol technology, the interest in and commercial opportunities for isobutanol in the India market, Gevo’s business strategy and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

For media inquiries, please contact:

Priyanka Watane
Assistant General Manager, Corporate Communications
Praj Industries
Email: priyankawatane@praj.net
Phone: +91 20 6675 4000 / 22922001 Website: www.praj.net

Joan Cetera
Vice President, Communications
Gevo, Inc.
Email: jcetera@gevo.com
Web site: www.gevo.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How will Praj and Gevo divide responsibilities under the new Bio-IBA agreement?

Praj will lead commercialization of Bio-IBA technology in India and holds exclusive rights to deploy the technology in the country. Praj contributes knowledge of Indian sugar- and starch-based feedstocks plus engineering, project execution, scale-up and market development, while Gevo provides its Bio-IBA technology and prior commercialization experience.

What is the purpose of the new Bio-IBA demonstration plant in India?

The Bio-IBA demonstration plant that Praj is establishing for a leading Oil Marketing Company is intended to validate production processes, supply-chain logistics and market-development pathways for Bio-IBA. Results from this plant are expected to inform and support future commercialization opportunities for Bio-IBA-based diesel blending in India.

Beyond diesel blending, what other applications does Bio-IBA enable?

Beyond diesel, Bio-IBA serves as a platform molecule for producing Sustainable Aviation Fuel (SAF) and other renewable chemicals, which the companies highlight as underscoring its versatility and expected long-term strategic role in the emerging bioeconomy.