Shares of TruAlt Bioenergy traded 3.08% higher at Rs 472 on Monday, November 17, after the company announced that it has signed a memorandum of understanding (MoU) with the Andhra Pradesh government to set up a large-scale Sustainable Aviation Fuel (SAF) manufacturing facility in the state. The stock gained Rs 14.10 from the previous close of Rs 457.90.
In its exchange filing dated November 15, the Bengaluru-based company said it has signed a non-binding MoU with the Andhra Pradesh Economic Development Board (APEDB), the state’s nodal agency for investment promotion and ease of doing business. The agreement outlines plans for the establishment of an SAF production plant in Andhra Pradesh, with a proposed investment of approximately Rs 2,250 crore.
Sustainable Aviation Fuel is a biofuel produced from renewable feedstocks such as agricultural residues, used cooking oil, and municipal solid waste. TruAlt Bioenergy noted that the facility aims to support India’s clean energy transition and strengthen domestic SAF production capabilities at a time when global demand for low-carbon aviation fuels is increasing.
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