Qteros Inc, a privately held biofuels technology startup backed by Soros Fund Management and other investors, has signed a partnership with Pune-based Praj Industries to licence its technology of producing ethanol from non-food feedstocks to builders of cellulosic ethanol plants in India.
Marlborough, Massachusetts-based Qteros, a 2006 spinoff from the University of Massachusetts has developed a microbe patented technology dubbed ''Q microbe'' that at a low cost converts the leaves and stalks or other unused materials of sugarcane, corn or soybean plants or other plants into cellulosic ethanol.
Qteros is backed by leading investors in the alternative energy industry such as Venrock Associates, Battery Ventures, BP Technology Ventures, Soros Fund Management and Valero Energy Corporation
Listed on both the stock exchanges in India, Praj Industries is a leading ethanol technology and plant supplier with a strong focus on second-generation bioethanol process development.
With Praj Matrix as its R & D division, Praj specialises in delivering know-how, license, engineering design, plant & equipment, project management, commissioning and customer care, and turnkey projects.
It has built about 450 ethanol plants in India as well as in South East Asia and Africa.