TruAlt Bioenergy secures Rs 150 crore under PM JI‑VAN Yojana for SAF project

What TruAlt Bioenergy announced

On 18 June 2026, TruAlt Bioenergy Limited disclosed that it has secured Rs 150 crore of financial assistance from the Government of India under the PM JI‑VAN Yojana. The approval, granted by the Centre for High Technology (CHT) of the Ministry of Petroleum & Natural Gas, is earmarked for the company’s proposed commercial‑scale Sustainable Aviation Fuel (SAF) project in Bagalkot, Karnataka. The assistance is expected to cover about 7‑10 % of the total capital expenditure of the plant, which is designed to produce 10 crore litres of SAF per annum.

"This milestone represents far more than the development of a new facility, as the world accelerates towards decarbonising aviation," said Mr. Vijay Nirani, Managing Director of TruAlt Bioenergy.

The press release was filed with the NSE and BSE on the same day, fulfilling Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial assistance details

• Amount approved: Rs 150 crore (approximately US$ 180 million at prevailing rates).
• Funding share: The grant is projected to fund 7‑10 % of the SAF project's capital outlay, thereby reducing the cash burden on TruAlt.
• Disbursement mechanism: The assistance will be released in accordance with project milestones stipulated in a Memorandum of Agreement (MoA) to be signed with CHT. Each tranche will be contingent on the satisfactory completion of predefined construction and commissioning stages.
• Nature of assistance: The support is a non‑recurring financial grant; it does not involve equity issuance, debt instruments, or any immediate dilution of existing shareholders.
• Regulatory backdrop: PM JI‑VAN Yojana is a flagship scheme aimed at accelerating advanced biofuel commercialization, encouraging the use of renewable feedstocks and agricultural residues.

Sustainable Aviation Fuel project overview

TruAlt’s SAF facility will be located in Bagalkot, Karnataka, leveraging the company’s existing ethanol and biofuel infrastructure. Key technical and strategic highlights include:

• Production capacity: 10 crore litres per year of SAF, positioning the plant among the largest domestic producers.
• Feedstock strategy: Utilisation of renewable agricultural residues and other low‑carbon feedstocks, consistent with the JI‑VAN emphasis on waste‑to‑fuel conversion.
• Alignment with national targets: The plant supports India’s SAF blending roadmap – 1 % by 2027, 2 % by 2028, and 5 % by 2030 – and contributes to the country’s commitments under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
• Strategic fit: The project expands TruAlt’s portfolio beyond its core ethanol business (2,000 KLPD installed capacity) into next‑generation fuels, complementing its existing compressed biogas (CBG) and retail fuel operations.
• Economic impact: By reducing reliance on imported fossil fuels, the SAF plant is expected to bolster energy security and generate rural employment through feedstock procurement.

Key facts at a glance

Why this matters for investors

The grant improves the financial viability of TruAlt’s SAF venture by lowering the net cash outlay required for construction. Because the assistance is a grant rather than debt or equity, it does not increase the company’s leverage nor dilute existing shareholders. However, the project will introduce a new revenue stream once commercial operations commence, potentially diversifying TruAlt’s earnings beyond ethanol and CBG.

Investors should note that the disbursement is milestone‑linked, meaning actual cash inflows will depend on TruAlt meeting construction and commissioning targets. Any delay in achieving these milestones could postpone funding and affect the project’s timeline. Additionally, while the assistance covers only a fraction of the total capex, the remaining financing will likely be sourced from internal accruals, bank loans, or other external instruments, which could influence the company’s future capital structure.

Conclusion

TruAlt Bioenergy Limited has secured a Rs 150 crore grant under the PM JI‑VAN Yojana, earmarked for its 10 crore‑litre‑per‑annum SAF plant in Bagalkot. The assistance, representing roughly 7‑10 % of the project’s capital cost, will be released in stages tied to construction milestones. While the grant does not dilute shareholders, the successful execution of the SAF project could add a significant new revenue line and align the company with India’s ambitious aviation decarbonisation goals. Final project completion and the timing of subsequent funding rounds remain subject to milestone achievement and market conditions.