22nd Nov 2005 11:22
D1 Oils Plc22 November 2005 22 November 2005 D1 Oils Signs Indian Jatropha Oil Supply Agreement D1 Oils plc (D1), the UK-based global producer of biodiesel from renewableenergy crops, has signed an agreement with PManek Biofarms Pvt (PManek) for thesupply of crude jatropha oil (CJO) for biodiesel feedstock. PManek is a producerof essential oils based in the Indian state of Gujarat. Under the agreement, PManek will supply D1 with CJO to be harvested from 40,000hectares of jatropha curcas. PManek has specialist farming expertise in theGujarat region, large landholdings, a local network of banking contacts andexperience in the production, storage, transport and export of essential oilproducts. Planting will be undertaken by PManek in the region of Jamnagar in westernGujarat, and is expected to begin in the middle of 2006 following the end of thesouthwest monsoon. D1 will provide PManek with jatropha seed and technicalagronomy support to facilitate planting and training of farmers. D1 has identified jatropha as its primary biodiesel feedstock because it doesnot require arable land. Jatropha seeds are crushed to produce vegetable oil forrefining into biodiesel. The relatively dry climate and soil of Gujarat isassessed to be ideal for jatropha planting, and mature yields from the 40,000hectares planted could yield in excess of 100,000 tonnes of biodiesel. India is expected to be a key location for the production and consumption ofbiodiesel from jatropha. D1's Product Development Centre in Coimbatore, India,is at the forefront of global research into the agronomy of jatropha and thedevelopment of jatropha as a biodiesel feedstock. The largest component of D1'sincreased two year planting target of 267,000 hectares will take place in India. The agreement with PManek is one of several third party oil supply agreements D1aims to put in place to supplement the contract farming programme beingundertaken through its joint venture, D1 Mohan Bio Oils. Philip Wood, Chief Executive Officer of D1, said: "Our agreement with PManektakes D1 for the first time into North West India, an area ideally suited forthe growing of jatropha. Securing long term supplies of jatropha oil isessential to our strategy of building a global biodiesel supply chain, and weare investing heavily in agronomy over the next three years to deliver a newstrain of high yielding jatropha that will be the global benchmark for biodieselfeedstock. We are confident that our strategy of combining D1's expertise injatropha agronomy with local planting expertise of the calibre possessed byPManek will be successful in delivering on our long term goal of becoming aleading global supplier of biodiesel and biodiesel feedstock." Pabubha V. Manek, Chairman of PManek said: "We are pleased to associate with D1Oils, the leaders in jatropha agronomy in India. Working with D1 will give usaccess to the most advanced jatropha crop science available, which will directlybenefit the farmers. We are confident that our association will work well anddeliver exceptional success for both the farmers and our two companies." Contact D1 Oils:Graham Prince, Head of Corporate CommunicationsTel: +44 (0) 20 7321 3892Mobile: +44 (0) 7973 323840 Brunswick Group:Helen Barnes, Associate PartnerTel: +44 (0) 20 7404 5959 D1 Oils IndiaSteve DoutyRegional DirectorTel: +44 (0)20 7321 3885 Notes to Editors: D1 Oils plc is a UK-based global producer of biodiesel from renewable energycrops. It is the owner of technical, marketing, logistical and otherintellectual property related to the establishment, development and harvestingof jatropha plantations, the extraction of oil from the harvested seed and theproduction of biodiesel and other valuable by-products from jatropha and othervegetable oils. PManek BioFarms Pvt Limited was incorporated in the year 2003 with a vision toenable farmers to increase their living standards through the cultivation andproduction of essential oils. PManek's current range of products includes aloevera, citronella oil, lemongrass oil and palmarosa oil. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NEOS.L