- Thyssenkrupp Industries India, under new Indian ownership, plans to enter the sustainable aviation fuel (SAF) sector.
- The company aims to rebrand its sugar business into a comprehensive venture focusing on sugar and biochemicals.
- Initiatives include partnerships to develop SAF from agricultural waste and green hydrogen, aligning with global aviation emission reduction goals.
Thyssenkrupp Industries India, now under Indian ownership following the recent sale of a majority stake by its German parent, is strategically venturing into the sustainable aviation fuel (SAF) sector. Managing director Vivek Bhatia revealed that the company is finalising partnerships to enter the SAF market within 12 to 18 months.
Thyssenkrupp Industries India plans to rebrand its sugar business into a comprehensive venture encompassing sugar and biochemicals as part of its broader business reorientation. Bhatia emphasised their ambition to explore diverse avenues such as ethanol, bio CNG, lactic acids, polylactic solutions, and other biomass-based products. This strategic shift aligns with their commitment to supporting green transformation across industries.
Sustainable aviation fuel (SAF), produced from non-petroleum sources such as agricultural waste, used cooking oil, and green hydrogen, is gaining significant global momentum. Major airlines like Qantas have set ambitious targets to incorporate SAF into 10% of their fuel usage by 2030 and up to 60% by 2050. In India, efforts are underway to develop frameworks and infrastructure for SAF adoption in commercial aviation.
For instance, Indian Oil Corporation (IOC) is partnering with LanzaJet, an American clean energy technology company and several domestic airlines to establish a SAF production facility at IOC’s Panipat refinery in Haryana. This venture represents a significant step towards reducing aviation emissions and promoting sustainable fuel alternatives in the region.
Thyssenkrupp Industries India, renowned for its expertise in engineering, procurement, and construction services, primarily within the mining, energy, and sugar sectors, sees the SAF initiative as a pivotal expansion opportunity under its new ownership structure. In addition to SAF and biochemicals, the company is also eyeing growth in the cement sector, with plans to bolster its presence and capabilities in this industry.
With the recent completion of the ownership transition, ThyssenKrupp Industries India is poised to embark on new strategic directions, including potential capital expenditures to enhance its operations across various sectors. This proactive approach underscores its commitment to innovation, sustainability, and meeting the evolving market demands in India’s industrial landscape.