6th Nov 2013 12:56
LONDON (Alliance News) - Legendary Investments PLC Wednesday said portfolio company Bosques Energticos, the Mexican biodiesel feed crop producer, is in discussions to obtain access to around 1,500 hectares of land suitable for growing its plants on a larger scale in light of faster growth of its trees.
"We are pleased with the progress being made at Bosques. The strategy of focussing on research and innovation is paying off. Each generation of plant has been superior to the previous with both time to yield and yield improving. The next step is to plant on a larger scale," Zafar Karim, Executive Chairman, said in a statement.
Legendary Investments shares were Wednesday trading up 5.0% at 0.084 pence, though as of 11:31 were back to the opening price of 0.0800 pence.
Legendary said the best strain of the pongomia trees, which were successfully rooted in November 2011, have flowered in 23 months and are exhibiting seed pods. Bosques has 120 of these trees, with around 30% having already flowered; they are already exhibiting seed pods.
Bosques has also developed early and high yielding jatropha, a flowering plant recognised as a candidate for biodiesel production, which see yielding seeds in as early as six months. Under optimal conditions, the plants are projected to yield 6,000 plus kg of seeds per hectare in year five, according to Legendary.
Bosques jatropha, unlike many jatropha, is edible. Cake from edible jatropha can be used as animal feed, which Legendary said further increases its value.
The company said reducing the time to seeds and increasing yield brings forward and increases cash flows.
By Samuel Agini; [email protected]; @samuelagini
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