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Viridas PLC (PRS)

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Friday 24 July, 2009

Viridas PLC

Update

RNS Number : 2306W
Viridas PLC
24 July 2009
 

Viridas plc ('Viridas')


Viridas is pleased to announce a change of name for its German subsidiary to Viridas GmbH.  It is intended that Viridas GmbH will provide Viridas with a platform in Germany for the sale of crude jatropha oil and jatropha biomass into the largest biodiesel and power generating market in Europe.


In the UK, Viridas is in discussions with three leading UK Power Generation Companies regarding a potential strategic jatropha biomass development and off take agreement.


Biomass for power generation is a co-product of the jatropha oil production process, five tonnes of biomass being produced for each tonne of oil. 


As announced at the AGM on 30 June 2009, Viridas remains optimistic about the prospects of securing funding for stage three of its jatropha project.



Stanley Wootliff

Chairman, Viridas plc

0113 2350632




Matthew Robinson

FinnCap

0207 600 1658



Notes to Editors:


Recent UK legislation set out fiscal incentives and penalties for the electricity generating industry regarding the use of sustainable biomass. Historically one of the main barriers to widespread use of biomass for power generation has been the absence of reliable feedstock availability, both quantity and quality. Viridas's large production of biomass as a co-product from its jatropha oil production is therefore very attractive to power generators who wish to have an assured supply of feedstock before committing to the building of large dedicated biomass generating plants.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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