Viridas signs deal with South American player
VIRIDAS, the Yorkshire company which is pinning its future fortunes on developing biodiesel in Brazilian rainforests, said today it has signed a development agreement with a South American agribusiness specialist.
The Leeds-based company, which is listed on the Alternative Investment Market (AIM), has agreed to work with Cazenave, a South American group with more than 40 years experience of managing agricultural projects in South America and advising government and multi-national organisations such as the World Bank and Cargill.
Viridas is planning to develop 120 square miles of jatropha plantation in Brazil to produce EU compliant biofuel.
Last April Viridas announced it had formed a partnership with INEOS Enterprises – a portfolio of eight businesses – to develop the project further. INEOS aims to bring an outlet for jatropha oil through its strategy to become a leading European biodiesel supplier.
Cazenave has been working with Viridas for more than a year, on a trial jatropha plantation in the Minas Gerias region of Brazil, to develop a jatropha oil which will meets the EU sustainability and green house gas emission requirements for biofuels.
The new contract with Cazenave will cover the further development of the planned plantation in Bahia and general consultancy support regarding agronomy and specific advice on the growing of jatropha.
Stanley Wootliff, executive chairman of Viridas commented: “The growing EU demand for compliant sustainable biodiesel is enormous. With Cazenave and INEOS we have strong partners in place with whom we are building a business with high sustainability values at its core to enable us to meet EU standards and realise the full financial benefits.”
Antonio Parsons, director, Cazenave added: “Growing Jatropha in Brazil makes sound economic sense and we are looking forward to developing a significant plantation with Viridas with sustainability values at its core.”
