OREANDA-NEWS. August 12, 2011. Indian Oil Corporation Ltd, the largest commercial enterprise in the country inked a Memorandum of Agreement with Department of Biotechnology (DBT), Government of India to set up a DBT–IOC Centre for Advanced Research on Bio-energy. The MoA was signed by Dr. R K Malhotra Director (R&D) of IndianOil and Dr. Renu Swarup, Advisor, Department of Biotechnology in the presence of Secretary DBT, Dr. M. K. Bhan and Mr. R.S Butola, Chairman Indian Oil Corporation at a brief function held at India Habitat Centre, New Delhi. Several luminaries from biotech sector and senior functionaries from IndianOil and DBT were also present.

“Second generation biofuels will fill the gap in energy space in the future” stated Dr Bhan reassuringly. However the Secretary DBT, emphasized the need to pool the talents not within the country but also across the globe and to tap and converge the strengths of all disciplines of biological sciences to make the venture a great success.

Quoting from his vast experience working in close association with the global leaders in the field, Mr R.S Butola, Chairman IndianOil stressed on the need and necessity to have a Centre of bioenergy research.. “Breakthroughs are needed to replace oil with plant based fuels and hope lies on biotechnological interventions and creation of this centre is expected to fulfill our aspirations in this regard” he added.

Dr. Malhotra, Director (R&D), IndianOil emphasized the need for 2nd and 3rd Generation Biofuels development. He assured that the scientists at the Centre will accept this challenge and will put all efforts to make this a successful venture. Dr Tuli GM, Alternate Energy of IndianOil presented an overview of the present status of biofuel research in the country and the plan of the proposed centre. Earlier Dr. Renu Swarup, Advisor, DBT briefed about the clear objectives of the Bio energy research Centre which will be set up under this joint endeavor.

The Advanced Bioenergy Research Centre is the 2nd such centre being set up by DBT, the first was at Institute of Chemical Technology at Mumbai. This centre is coming up at IndianOil’s R&D complex at Faridabad and will cost Rs 53 crores for 5 years of operation and DBT will share half of this cost. Initially the Centre will have Ph.D scholars, senior researchers and several invited distinguished scientists from India & abroad to work.