California’s Eco-Fuel Global to Produce Biofuels for Rwanda

Nov 29 2009 | 9:34pm ET

San Francisco Bay Area-based Eco-Fuel Global and the UK-based Eco Positive have signed a $250 million agreement with the Rwandan government to produce biofuels from Jatropha Curcas.

The deal will see the two companies grow the plant, from which they will extract an estimated 20 million liters of biofuel annually, on 10,000 hectares of marginal land near Akagera National Park.

The companies say the biofuels produced will eventually replace up to 20% of Rwanda’s fossil fuel requirements. Eco-Fuel Global CEO Mark O’Brien characterized the project as “the beginning of one of the largest sustainable biofuel projects in the world.”

The deal, part of a larger Sub-Sahara Africa bio-fuel strategy, is expected to create 6,500 direct jobs and reduce greenhouse gas emissions. Investors also claim the project will contribute to food security, as one of the by-products of the bio-fuel production process is fertilizer.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of