Petroleum Africa
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Thursday, August 2, 2007
Energem Resources has entered into the bio-fuels industry with the purchase of a 70% controlling interest in a jatropha based bio-diesel venture in
The investment is expected to be required over the next year to fully plant the initial 1,000 hectares, clear and commence planting on a further 5000 hectares, acquire additional land of up to 60,000 hectares (presently under application from the Mozambiquan Government), and produce a first crop of unrefined jatropha seed oil to confirm expected yields and oil quality.
The venture, which was initiated some three years ago, now renamed Energem Renewable Energy Ltd., forms part of Energem’s recently established Biofuels Division. The venture has established jatropha seedling nursery facilities, and has commenced the clearing and planting of 1,000 hectares of land in
Along with the purchase of the stake the company has also taken on a senior management team with extensive experience of plantation management and biofuels in the region. This management team will retain a 30% interest in the venture.
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