Jatoil, a new jatropha producer, launches $10 million flotation on the Sydney Stock Exchange

In Australia, Jatoil has launched a $10 million public company flotation this week. Jatoil will grow jatropha in Asia and sell low-cost jatropha oil to Asian biodiesel producers, ultimately expanding to Europe. The company will offer 50 million shares at 20c to add $10 million to its working capital.

Asian jatropha cultivation and oil production is heating up. Last week, the Technological University of the Philippines (TUP) and Chemrez Technologies announced that test batches of jatropha biodiesel have met the major international standards used in the US and Europe.

In India last week, B M Khaitan Group companies Eveready Industries India Ltd (EIIL), McLeod Russel India (MRIL) and McNally Bharat Engineering were reported on tradingmarkets.com to be seeking biofuels acquisitions. EIIL and McLeod Russel vice-chairman Deepak Khaitan said that the group has taken a 50 percent stake in D1 Williamson Magor Biofuels, and that the joint venture would invest $89 million in jatropha plantations and a biodiesel plant, with an eventual ambition of a 55,000 hectare jatropha plantation in eastern India.

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