Statement
of Mr. Vinod Khosla on Ethanol, Praj and his investment philosophy.
May 2006
"
It is my belief that ethanol can replace majority of petroleum
use in the US over the next 25 years. Of course, this
would
require some 'outside the barrel' thinking in terms of technology,
feed-stocks and policies. USA has shown the way where
policy
is concerned. Technology and Feed-stock is more localized.
Hence, each country will have to come up with its own
paradigm for
ethanol program. Whilst Brazil, based on sugarcane and USA,
based on corn, are a shining examples of ethanol programs,
the
rest of the world has an equal chance to catch up. Sweden has
chosen to completely eliminate its dependence on gasoline
by
2020. The technology is fairly well developed. Feedstock challenges
are manageable.
I
see a lot of potential in cellulosic biomass as a feedstock.
We
are experiencing rapid buildup of ethanol plants in the US.
Capacity is increasing 20-30# per year. Consequently demand
for professional engineering and large-scale manufacturing of
distillery equipment has increased dramatically. Praj's experience
and highly educated workforce of over 300 engineers makes them
well-positioned to capitalize on this opportunity.
I
also see a need for technologies to process newer feedstock
for ethanol production including cellulosic biomass. This would
require further research in order to improve viability. We see
a potential for Praj to play a major role in this area also.
With its own R&D focus, Praj has a unique position as a
technology as well as a plant and equipment provider.
I
look forward to working with them in this new era of renewable
fuels.
On
my Investment Philosophy..
There
should be a growth story based on technology shift and we see
the role of a good Investor as an enabler.
My
involvement in Praj is primarily as an investor. However, at
a strategic level it is more like a facilitator wherein we will
enable Praj to realize its true potential as a global player
in accessing newer markets. I also hope to introduce Praj to
the latest technologies available."
All
five large sized fuel ethanol plants commissioned in Colombia.
Pune,
May 2006
All
five large sized plants to produce ethanol commissioned in Colombia.
All plants are on stream for commercial production.
1.
Incauca S.A. 
Turnkey
design and supply of 300,000 litres/day fuel ethanol plant using
cane molasses B, juice and syrup.
2.
Ingenio Providencia S.A.
Turnkey
design and supply of 250,000 litres/day fuel ethanol plant using
cane molasses B+, juice and syrup.
3.
Manuelita S.A.
Turnkey
design and supply of 250,000 litres/day fuel ethanol plant using
cane molasses B.
4.
Ingenio Mayaguez S.A.
Turnkey
design and supply of 150,000 litres/day (expandable to 250,000
litres/day) fuel ethanol plant using cane molasses B+, juice
and syrup.
5.
Ingenio Risaralda S.A.
Turnkey
design and supply of 100,000 litres/day fuel ethanol plant using
cane molasses B+ and filtrate juice.
Book
"As Is What Is" Released
Pune
9th April 2006
A
book titled "As Is What Is" is released
at the hands of Mr. Arun Firodia, Managing Director, Kinetic
Engineering at a special function on the occasion of the 22nd
Annual Day celebrations of Praj on 9th April, 2006. The book,
As is what is, is a candid reproduction of
memoirs of Pramod Chaudhari as narrated to Ms. Parimal Chaudhari
( she is also the author of the book) of his trials and tribulations
of establishing and operating an organization called PRAJ. It
is also an effort to leave the past where it belongs and to
look to the future without the burden of having to cope with
the past. During the release function of the book Dr. Mashelkar
rightly pointed out that 'to build the future you need to abandon
the past'. The book is an attempt to introduce entrepreneurship
and organization building for those who have no previous background
in business but would like to make a difference with the education
they have recieved. The book is published by Popular Prakashan
and is available at Crossword Mumbai and Pune from 17th April,
2006.
On
receiving the award Pramod Chaudhari said, "This recognition is
an appreciation of Praj's capability. Innovation has been the cornerstone
of Praj. We are also being recognized for our global success. Our
R & D facility called Matrix - The Innovation Center was expanded
in 2002 to focus on more productive processes for developing renewable
energy such as fuel ethanol. We continue to work in this field to
serve customers in India and all over the world. We have exported
this Technology to Colombia for use in ethanol plants, two of which
are successfully commissioned." " The distillery set up at Colombia
is an illustration of a world class Technology offered by Praj.
The Colombian distillery, with a capacity for processing 300 thousand
litres ethanol per day ethanol is truly world class. " He added.