Viridas aims to raise $1.4 million for Brazilian jatropha operations

In Brazil, Viridas announced a $1.4 million capital raise to fund jatropha-based biodiesel operations in Brazil. The company said that funds will assist in developing the initial plantation, which will involve the planting of 26 million jatropha plants on a 600-acre site in Salvador state.

The company said that it expects to produce 60,000 metric tons of jatropha oil and 240,000 metric tons of biomass per year. The company said it is establishing the plantation on cattle ranch land that is no longer productive.

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