Mission NewEnergy Wins Approval For Biodiesel Feedstock Business In India

Published: 18-Mar-2010

Mission NewEnergy, a biodiesel refiner and Jatropha plantation company, has received approval from the Ministry of Finance, Government of India, for further capital investment into its Indian feedstock business.

The company will also carry on with the original approved activity of being engaged in the contract farming of Jatropha Curcas and utilization of the Jatropha oil for domestic or export markets.

Nathan Mahalingam, managing director of Mission NewEnergy, said: "This affirmation confirms the Indian governments support for the development of the Jatropha industry and the leadership role that Mission is playing in the further development of the industry.

"The demand is growing rapidly for long term supply of sustainable biodiesel and Mission is already in discussions with several oil majors on new off-take agreements similar to the recently contracted landmark off-take agreement with Valero Energy of US."

While Mission NewEnergy expects that India will become a significant market for Jatropha biodiesel in the future, it currently sees the US and Europe as its primary markets given significant legislated demand, the company said.

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