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HomeIndustry“Renewable Methanol Offers Vast Potential to Reap Significant Socio-Economic Benefits”: Methanol Institute

“Renewable Methanol Offers Vast Potential to Reap Significant Socio-Economic Benefits”: Methanol Institute

“Renewable Methanol Offers Vast Potential to Reap Significant Socio-Economic Benefits”: Methanol Institute

The nation pledged this 75 th Independence Day to make India a Fossil Fuel Free Economy. India is moving closer to the long-awaited sustainable future as a result of this increasing acceptance of the necessity to use alternative fuels. Methanol being a versatile substance is extensively employed in industrial processes worldwide. Therefore, the economy of India would benefit if they turned their attention to methanol.

Talking about the consequent growth of Methanol in India, Prakriti Sethi, Chief India Representative, said, “Methanol is gaining significance in India as an alternative fuel that will bolster the country’s efforts to ensure energy security and reduce GHG emissions. Transport Minister Shri Nitin Gadkari has been vocal on encouraging the use of alternative fuels such as methanol. These steps signal positive progress towards India’s methanol economy. Recently Indian Oil Corporation Ltd. (IOCL) recently rolled out a M15 blending pilot project in Tinsukia district of Assam. This is a welcomed step to champion methanol as the next generation fuel of the country.”

She added “Renewable methanol offers vast potential to reap significant socio-economic benefits. India’s waste generation has doubled in the last couple of years. If adequate processes are developed to efficiently process and recycle waste, new economic value can be generated in the form of chemicals and fuels such as methanol. The potential to transform “waste” into a valued product such as renewable methanol can support new investments in technological innovations that tackle pollution by bolstering the country’s circular economy. These investments would go a long way to enhance livelihoods and provide economic opportunities. Waste to methanol facilitates reducing the quantity of waste for its safe disposal, energy independence, and sustainability.”

Since 2016, Methanol Institute has been engaging with the Indian Government entities such as Ministry of RoadTransport and Highways (MoRTH), Ministry of Petroleum and Natural Gas (MoPNG), and Niti Aayog to set up the methanol economy. MI has a strategic partnership agreement with Niti Aayog that seeks to strengthen the commitment of both organizations to develop India’s methanol economy through robust policy dialogue, with the goal of reinforcing India’s energy security with an efficacious methanol energy market.

 

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