India can cover 59% of 2020 gasoline needs with 2nd generation biofuels
Oct 23, 2012 - Second-generation biofuels can potentially cover up to 59% of gasoline demand in India in 2020, Business Standard quoted Steen Riisgaard, CEO of Danish biotechnology firm Novozymes (CPH:NZYM-B), as saying.
India can take advantage of its agricultural residue and produce biofuels in order to become more self-sufficient in terms of transport fuel, making it less dependent on oil imports, Riisgaard said. In addition, second-generation biofuels would also help the country lower its greenhouse gas emissions as well as boost employment and economic growth, the officer was quoted as sayind.
Novozymes has a share of about 60% of the global biofuel enzyme market and is currently working on second-generation ethanol with partners in the US, Latin America, Europe, China and India, Riisgaard noted. The company, whose Indian business dates back to 1983, has plans for further expansion in the country, he added.