Mission NewEnergy
Mission NewEnergy (ASX: MBT, Nasdaq: MNEL) is a global renewable energy provider with operations in Australia, Malaysia, India and Mauritius and is one of the world’s largest cultivators of Jatropha Curcas, a unique, high-oil-content biodiesel feedstock.
Mission NewEnergy receives India approval for biodiesel feedstock business
Wednesday, March 17, 2010
Mission NewEnergy (ASX: MBT), a biodiesel refiner and one of the world’s largest Jatropha plantation companies, has announced that the Indian Government (Ministry of Finance) has approved further capital investment by Mission into its Indian feedstock business.
The company may also continue 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.
“This affirmation confirms the Indian government's support for the development of the Jatropha industry and the leadership role that Mission is playing in the further development of the industry," said Nathan Mahalingam, Managing Director of Mission NewEnergy.
"While Mission expects that India will become a significant market for Jatropha biodiesel in the future, it currently sees the United States and Europe as its primary markets given significant legislated demand."
"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 USA," Mahalingam added.
No investment advice
The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
