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According to S. M. Vaidya, chairman of the state-run refiner Indian Oil Corp (IOC.NS), the company will sign a contract with LanzaJet to create cleaner aviation fuel at its Panipat refinery in northern India. With Microsoft, the US Department of Energy, Japan's Mitsui & Co (8031.T), and Canada's Suncor Energy (SU.TO) among its investors, Chicago, Illinois-based LanzaJet assists businesses in producing aviation fuel from ethanol made from industrial or agricultural waste. 

According to Vaidya, who spoke to Reuters on the sidelines of the India Energy Week in Bengaluru, 2% of the aviation fuel generated by Indian Oil by 2030 will be sustainable aviation fuel. At the moment, no ethanol-based aviation fuel is produced by the state-run refiner. 

Indian Oil already collaborates with LanzaTech, the parent firm of LanzaJet, to turn trash into ethanol; the LanzaJet partnership will assist transform the ethanol into cleaner jet fuel.

According to Vaidya, the oil refiner is also in talks with Snamprogetti SpA of Italy about converting gas pipelines into hydrogen pipelines.