Basic Energy to focus on cassava production; will ramp up ethanol production in time for Philippine E10 mandate in 2011

In the Philippines, Basic Energy said that it will raise up to $30 million in equity from investors and concentrate its activities on cassava cultivation, with a goal of commencing ethanol production by 2011. The Philippines have previously announced an E10 mandate to take effect in the country by 2011. The company said that cassava produced prior to 2011 will be sold via commodity markets as an ethanol feedstock.

Basic Energy had previously indicated plans to build a 27 Mgy ethanol facility in Zamboanga, and had signed partnership agreements with Nexum Energy and MAN Ferrostaal Industrieanlagen for renewable energy development in the Philippines.

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