30th Jun 2008 14:20
30 June 2008
GEM BioFuels Plc
("GEM" or the "Company")
Annual Report and AGM Notice
GEM BioFuels PLC (AIM: GBF), the emerging feedstock supplier to the global biodiesel industry, is pleased to announce that its annual report and accounts for the year ended 31 December 2007 has now been posted to shareholders. The AGM will be held at on 23 September 2008 at 12 noon, 34 North Quay, Douglas, Isle of Man, IM1 4LB and notice of the AGM will be circulated to shareholders shortly.
Copies of the annual report and accounts will be available from GEM BioFuels Plc's registered office, 34 North Quay, Douglas, Isle of Man IM1 4LB and may be viewed on, or downloaded from the Company's website www.gembiofuels.com.
Enquiries:
|
GEM Biofuels Plc |
WH Ireland |
Parkgreen Communications |
|
Paul Benetti Chief Executive Officer |
Tim Cofman-Nicoresti / Nicola Rayner |
Louise Goodeve / Justine Howarth |
|
+61 (0)8 6365 3038 +61 (0) 407 039 379 (mobile) |
+ 44 (0) 121 265 6330 |
+44 (0) 20 7851 7480 |
Notes to Editors
About GEM Biofuels
GEM Biofuels was founded in 2004 to capitalise on the opportunity presented by the local agricultural and socio-economic conditions in Madagascar to produce Jatropha oil for use as a biodiesel feedstock. Operations are based in the South of the island where the Jatropha tree grows wild.
The Company has secured 50 year agreements giving exclusive rights over 452,500 hectares (in excess of 1 million acres) to establish plantations, ranging in size from 2,500 - 50,000 hectares with a further 40,000 hectares of natural forest containing substantial numbers of mature Jatropha trees.
To date the Company has planted 43,500 hectares of Jatropha and a total of 200,000 hectares is
expected to be planted by 2010. Based on this, the Group's production is expected to be 20,000 tonnes per annum ("t.p.a.") of crude Jatropha oil in 2009 rising to 210,000 t.p.a. in 2014, after its trees mature.
GEM Biofuels Plc was admitted to trading on AIM in October 2007.
Jatropha
Jatropha is a small tree/shrub, growing to about 5 metres in height and is well suited for use in the
production of biodiesel. Jatropha trees are relatively drought resistant and suitable for cultivation in subtropical regions. The high oil yielding seeds are mildly toxic and as such Jatropha is not a food and its use in biodiesel production does not affect the cost of living of the indigenous population. Biodiesel refined from Jatropha oil complies with international standards, including EN14214 in Europe, the major market for biodiesel.
Whilst the current production of Jatropha seed for commercial purposes is small, it is substantially
increasing due to its attractiveness as a biodiesel feedstock because of its ability to grow on marginal land and the fact that it is non-edible.
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