The U.S. Trade and Development Agency announced that it is providing grant funding to Indian Oil Corporation Limited as it evaluates carbon capture utilization and storage technologies to reduce emissions at its Koyali refinery in Gujarat.
“This project is an ideal example of the groundbreaking work USTDA supports and makes possible,” said Todd Abrajano, Chief Operating Officer and Head of Agency. “This innovative solution the first of its kind in India is how we are showing American technology will make a meaningful impact on India’s refinery operations.”
USTDA’s funding will support IndianOil’s evaluation of technologies to capture and utilize carbon dioxide produced during refinery operations, presenting a novel and cost-effective environmental strategy that can be expanded to other refineries in India.
According to Dr. SSV Ramakumar, IndianOil Board member and Director (Research & Development), “This project are consistent with our vision to provide superior quality products using sustainable technologies. IndianOil is at the forefront of innovation, and our cooperation with USTDA will help us become a leader in the utilization of carbon capture technologies.”
USTDA’s support of this project aligns with key energy priorities of the Administration, including the Asia Enhancing Development and Growth through Energy program and the U.S.-India Strategic Energy Partnership.