Trualt Bioenergy Limited has entered into a Joint Venture Agreement (JVA) with Sumitomo Corporation, Japan (Sumitomo) and Trualt Gas Private Limited (TGPL) with an intent to operate TGPL as a Joint Venture Company for the purpose of developing and setting up biogas and compressed biogas (CBG) production plants initially comprising four CBG plants, and undertaking the sales and distribution of CBG and associated byproducts, including but not limited to fermented organic manure, biogenic COтВВ, and carbon credits.
Trualt Bioenergy, in an exchange filing, informed that the JV will facilitate large-scale adoption of clean energy solutions, reduction of carbon footprint, and promotion of a circular economy, in line with the Government of IndiaтАЩs CBG and renewable energy policies. Under the proposed structure, the company will hold a 51% equity stake, and Sumitomo will hold a 49% equity stake in the Joint Venture Company Viz. TGPL, ensuring that the company retains management control in compliance with domestic regulatory requirements.
The Company has also signed a Share Purchase Agreement (SPA) with Sumitomo Corporation, Japan, Nirani Holdings Private Limited and Trualt Gas Private Limited wherein the Nirani Holdings Private Limited shall transfer its entire 49% shares held in TGPL to Sumitomo Corporation on such terms and conditions as mentioned in the said agreement.
By combining TruAltтАЩs integrated bioenergy expertise with Sumitomo CorporationтАЩs global industrial experience, the partnership strengthens IndiaтАЩs clean energy transition, promotes circular bioeconomy solutions, and lays the foundation for a future-ready sustainable fuel infrastructure.
