Praj Industries and Gevo, Inc. (NASDAQ: GEVO) announced the signing of a Development & Commercialization Agreement for Bio-Isobutanol (Bio-IBA) technology in India, according to a press release dated Sept. 16, 2026.

Under the agreement, Praj will hold exclusive rights to deploy Gevo's Bio-IBA technology in India, with a primary focus on diesel blending applications. The two companies have maintained a working relationship for more than a decade developing Bio-IBA technology for Indian feedstocks and market conditions.

Separately, Praj is establishing what it describes as India's first commercial Bio-IBA demonstration plant for a leading Oil Marketing Company. The plant is being designed, engineered, supplied and erected by Praj using Gevo's licensed Bio-IBA technology. The facility is intended to validate production, supply-chain and market-development pathways for future commercialization in India.

According to India's Petroleum Planning & Analysis Cell, India consumed approximately 94.7 million tonnes (29.7 billion U.S. gallons) of high-speed diesel in fiscal year 2025-26.

"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.

"This Development & Commercialization Agreement establishes a strong foundation for bringing Bio-IBA to the Indian market," said Dr. Pramod Chaudhari, Founder Chairman of Praj Industries.

The press release also noted that Bio-IBA can serve as a platform molecule for producing Sustainable Aviation Fuel and other renewable chemicals. Praj Industries is listed on the BSE Limited and the National Stock Exchange of India.