17 April 2008
Viridas PLC and INEOS Enterprises join forces in major Jatropha development
Viridas PLC (Viridas) has today announced that it has entered into an exclusive
strategic partnership with INEOS Enterprises to develop significant growth in
the sustainable output of Jatropha, a perennial non-food oilseed used in
alternative fuels production.
Viridas is pioneering the development of owned and managed Jatropha projects in
Brazil and specifically the use of Jatropha Oil as a key raw material for
biodiesel production. Jatropha Oil is rapidly becoming the leading replacement
for conventional fuel oils used in industrial and transportation applications.
INEOS Enterprises will bring to the partnership a significant outlet for
Jatropha Oil through its ambitious strategy to become a leading European
Jatropha Oil is a non-food feedstock for biodiesel production that can be grown
on marginal land and needs only limited supplies of water, fertiliser and
pesticides. Jatropha, which is crushed for oil extraction, will be planted and
harvested using adapted agricultural technologies and systems. This will allow
idle land to be replanted with trees and the pruning and harvesting processes to
use highly efficient farming practices.
Stanley Wootliff, Chairman of Viridas, comments, 'We are very excited by the
prospects for Jatropha in applications for alternative fuels such as biodiesel.
Having a partner like INEOS Enterprises enables us to accelerate significantly
our development programme to establish Jatropha as a truly sustainable non-food
Dr Harryn Deans, CEO of INEOS Enterprises, comments, 'This is another exciting
development in our strategy to become a major provider of biodiesel across
Europe. We continue to explore opportunities to develop sustainable feedstocks
for biodiesel production, working in partnership with growers, and this
partnership is a further demonstration of our continued commitment to this
rapidly emerging sector.'
INEOS Enterprises is pressing ahead with its ambitious programme of investments
in new world-scale biodiesel facilities globally, including the expansion of its
existing operations at Baleycourt, France.
Viridas is currently progressing its own significant investment programme,
including the acquisition in Brazil of 250,000 hectares of idle land, to be
owned and managed by Viridas, for the contracted annual production of 500,000
tonnes of sustainable high quality Jatropha Oil.
Through this partnership Viridas and INEOS Enterprises share a common vision of
developing their respective leading positions within the biodiesel supply chain
whilst at the same time providing agricultural communities with a new and
sustainable crop, helping to create a non-food feedstock for alternative fuels
For further information, please contact:
STANLEY WOOTLIFF, Executive Chairman, Viridas Plc, 0113 2350632,
JOANNE LAKE, Evolution Securities Limited, 0113 243 1619
JOHN GREENHALGH/RON MARSHMAN, City of London PR Limited, 020 7628 5518
This information is provided by RNS
The company news service from the London Stock Exchange