: SIAM join hands with Brazilian Sugarcane Association to launch CoE to promote ethanol as alternative fuel #FinanceIndia #StockMarketNEWS SIAM join hands with Brazilian Sugarcane Association to launch

@StockMarketNEWS Tue 17 Jan, 2023

Posted in: #FinanceIndia #StockMarketNEWS

SIAM join hands with Brazilian Sugarcane Association to launch CoE to promote ethanol as alternative fuel #FinanceIndia #StockMarketNEWS
SIAM join hands with Brazilian Sugarcane Association to launch CoE to promote ethanol as alternative fuel Noida, Jan 16 (KNN) The Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri at Auto Expo 2023 launched the Virtual Center of Excellence (CoE) to highlight the role of ethanol as part of the solution in decarbonisation.

The centre has been jointly developed by the Brazilian Sugarcane Industry Association (UNICA) and Society of Indian Automobile Manufacturers (SIAM) at the Auto Expo.

Addressing the occasion, the Union Minister pointed out that ethonal as a green fuel is the future of India.

The centre will aim to provide users with information on ethanol, biomass for bioenergy, and sustainability of biofuels, and provide stakeholders with relevant technological and policy initiatives that will smoothen India’s transition to low-carbon mobility.

Speaking on the occasion, Bento Albuquerque, Ex-Minister of Mines & Energy, Brazil said, “It is exciting to see how fast the bioenergy and the automotive industries are evolving in our countries, Brazil and India and they should continue working together to promote global market development and offer sustainable, affordable, and reliable solutions for low carbon transportation. The India-Brazil Center of Excellence is a step in the right direction to transform this ambition into reality.”

Brazil is one of the largest producers of ethanol in the world and is home to the world’s largest fleet of cars that use ethanol as fuel. India also has a strong focus on biofuels and has brought forward by five years, to 2025, the goal of achieving a 20 per cent ethanol blend in gasoline.

India is the second largest sugar producer in the world, after Brazil, and has the potential to convert surplus sugar stocks into ethanol.

Speaking at the event, Eduardo Leão de Sousa, Executive Director, UNICA, said, “We are grateful for our partnership with SIAM which has been extremely fruitful in ensuring the success of the ethanol programme in India.”

Vinod Aggarwal, President SIAM and MD & CEO Volvo Eicher Commercial Vehicles, said that the launch of CoE will support and complement the government’s efforts in promoting bioenergy, biofuels, and other bio-based fuels for low-carbon mobility in India and Brazil. (KNN Bureau)