Mission NewEnergy gets nod from Indian gov't

By | February 23, 2010
Posted March 22, 2010

Mission NewEnergy Ltd., a biodiesel refiner and Jatropha plantation company, recently announced that the Indian Government (Ministry of Finance) has approved further capital investment by Mission NewEnergy into its Indian feedstock business, and to carry on with the original approved activity of being engaged in the contract farming of jatropha and utilization of the jatropha oil for domestic or export markets.

"This affirmation confirms the Indian government's support for the development of the jatropha industry and the leadership role that Mission NewEnergy is playing in the further development of the industry," said Nathan Mahalingam, managing director of Mission NewEnergy.

While the company expects India to become a significant market for jatropha biodiesel in the future, it currently sees the United States and Europe as its primary markets given significant legislated demand.

Mahalingam stated that Mission NewEnergy is already in discussions with several oil majors regarding new off-take agreements similar to its recent contract with U.S.-based Valero Energy Corp.

Mission NewEnergy owns and operates a 30 MMgy biodiesel plant in Kuantan, Malaysia, adjacent to which the company is commissioning another biodiesel plant, a 75 MMgy refinery designed and built by turnkey contractor KNM Process Systems SdnBhd that will employ Axens' heterogeneous catalyst technology. The company stated that oil from its jatropha farms will eventually replace crude palm oil as feedstock for its biodiesel manufacturing plants.
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