Praj was bestowed with the prestigious Golden Peacock Award during the 31st World Congress on Leadership for Business Excellence and Innovation at Chennai on Friday, July 22, 2022. Praj won this award in the Innovative Product and Service category. Mr. S Regupathy, Hon’ble Minister for Law, Courts and Anti-Corruption Govt. of Tamil Nadu conferred the award to team Praj.
With First-of-its-kind patented Eco-Invert technology, Praj has developed the groundbreaking product BIOSYRUP®. Now it possible to store sugarcane juice in form of syrup for up to 12 months without any contamination or loss of sugar. This will enable sugar mills to produce ethanol round-the-year beyond the sugar season, thus positively impacting sugar industry and cane farmers.
The Golden Peacock Awards, established by the Institute of Directors, India in 1991, is one of the most coveted awards and is regarded as a benchmark of Corporate Excellence worldwide. Established now for over 30 years, has earned credibility due to its transparent Three-Tier evaluation process making it a hallmark of excellence globally. The jury comprised of experts with impeccable integrity and eminence from environment, health & safety, energy, and climate change.
While announcing the award, Mr. Manoj K. Raut, Chief Executive Officer & Director, Institute of Directors, said “Golden Peacock Awards are one of the most fabled awards with meticulously defined selection criteria and highly elaborate evaluation process. Praj Industries Limited, a leading industrial biotechnology company, has developed a revolutionary technology to process sugarcane juice into a new sustainable feedstock BIOSYRUP® for round the year ethanol production. We congratulate Praj for winning the accolade in the innovation category.”
Speaking about this recognition, Dr. Pramod Chaudhari, Founder Chairman, Praj Industries said, “I am happy that, after winning this very award in 2019 in Eco-Innovation category, we have been able to repeat the feat this year in Innovative Product & Service Category. We are grateful to the jury for recognizing our innovative product that will help to augment ethanol production capacity. This will help to reduce dependency on imported crude oil and bolster rural economy.”
Ethanol production from BIOSYRUP® has been successfully demonstrated at M/s Jaywant Sugars, Karad, Maharashtra. There is an increase in the market demand for commercial-scale ethanol plants using this innovative product.