IndianOil has announced a 50-50 joint venture company with EverEnviro Resource Management focused on advancing the use of biofuels across India.
Santanu Gupta, Executive Director (Alternative Energy) at IndianOil, and Mahesh Girdhar, MD & CEO of EverEnviro, signed the agreement in the presence of senior managers from both organizations, including IndianOil’s N Senthil Kumar, Alok Sharma, and Arvind Kumar.
The venture will focus on deploying biogas technologies to convert organic waste into Compressed Biogas (CBG), offering a cleaner, renewable energy alternative. The initiative aligns with IndianOil’s long-term sustainability strategy, supporting India’s goal to achieve net-zero emissions by 2070.
Investment in Compressed Biogas not only reduces greenhouse gas emissions but also enhances energy security by reducing reliance on imported fossil fuels, while creating local employment opportunities, particularly in rural areas.