Indian Oil Corp will sign a memorandum of understanding with sustainable fuel tech provider LanzaJet to produce sustainable aviation fuel at its Panipat refinery in northern India, its chairman told today.

The company has a tie up with LanzaTech for converting waste gas to ethanol, and U.S.-based LanzaJet will be helping in upgrading ethanol to jet fuel.

By 2030, 2% of aviation fuel will be sustainable aviation fuel, Chairman S. M. Vaidya told Reuters on the sidelines of India Energy Week in Bengaluru.