Praj Industries and ICT to launch CoEI for Biopolymers; stock gains ~1.5%

7 Oct 2022 , 01:17 PM

India will soon host the country’s first “Center of Excellence & Innovation” (CoEI) for Biopolymers. Praj Industries’ management, and Aniruddha Pandit, Vice Chancellor of ICT, signed a Memorandum of Understanding (MoU) to that effect in Mumbai on October 6, 2022.

The “Parimal and Pramod Chaudhari Centre of Excellence and Innovation For Biopolymers” will conduct research, encourage academic pursuits, and investigate fresh uses.

CoEI will feature a cutting-edge laboratory for establishing innovative methodologies and standards for the characterization, processing, and modification of biopolymers. In addition to expanding the use of biopolymers in the medical and aesthetic fields, CoEI plans to increase its application in other industries.

Packaging, food service, consumer products, agriculture, textiles, electronics, energy storage, and other sectors fall within this category. As its initial collaboration initiative, CoEI will focus on the application development of bioplastics such as PHA* and PLA**.

ICT is India’s top institution for chemical engineering, chemical technology, applied chemistry, pharmacy, biotechnology, and bio-processing teaching, training, research, and industry partnership.

At around 1.24 PM, Praj Industries was trading at Rs450.20 up by 1.5% from its previous closing of Rs443.55 on the BSE. The scrip touched intraday high and low of Rs461.45 and Rs446.90 respectively.

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