TruAlt Bioenergy Signs MoU with Andhra Pradesh for Sustainable Aviation Fuel Plant

17 Nov 2025 , 01:29 PM

TruAlt Bioenergy announced on November 15 that it has signed a memorandum of understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to set up a Sustainable Aviation Fuel (SAF) production plant in the state. The filing with the stock exchange confirmed that the MoU is non-binding.

APEDB is the state government’s nodal agency responsible for attracting investment and supporting ease of doing business in Andhra Pradesh. The planned SAF plant will produce biofuel using renewable feedstocks such as agricultural residues, used cooking oil, and municipal solid waste. The company expects the project to involve a total investment of around ₹2,250 crore.

Earlier this year, Vijay Murugesh Nirani, Founder and Managing Director of TruAlt Bioenergy, told CNBC-TV18 that reducing carbon emissions and strengthening energy security are key priorities for the company. He highlighted that SAF presents a huge growth opportunity and could help India move from being a net energy importer to a fuel exporter.

On the stock market, TruAlt Bioenergy’s shares closed Friday at ₹459.65, down 2.82 percent or ₹13.35. As of 1:25 PM on Monday, the share price of TruAlt Bioenergy is trading at ₹470.80. This is a 2.92% gain in the NSE.

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