Cassava, jatropha and oil palm ventures proceed in Ghana, the Philippines and Malaysia

Three international biofuel projects moved forward yesterday with new investment and feedstock agreements.

Caltech Ventures Ghana has invested $10 million in a 400 acre cassava plantation that will expand to 1,200 acres next year and will produce 1.5 million gallons of ethanol.

In the Philippines, PNOC-AFC signed a deal to acquire the jatropha production of Royal Green Energy.

In Australia, Sterling Biofuels announced a deal to acquire oil palm for its Lahad Datu plant in Malaysia. Sterling, which will own 70% of the joint venture, will produce 45 tonnes per hour of palm oil, increasing in a later phase to 90 tonnes per hour for the biodiesel plant.

Cassava projects have been recently given the green light in Thailand and China. Meanwhile, palm oil futures reached a four-year high yesterday in commodities trading.

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