Biofuels can be sizeable industry in New Zealand

Biofuel technology could become a primary industry with the power to transform the economy in New Zealand, according to Singapore-based Pure Power, which has a technology center in New Zealand. Pure Power’s Jim Watson says the countrys economy is firmly based on the dairy industry. We have to develop another sizeable industry. And probably the energy opportunity is the one we might have to put in place which has a chance of truly transforming our economy, Watson says. Pure Power last year bought Genesis Research & Development subsidiary BioJoule, with its advanced lignocellulosic technology. Pure Power will have Salix cuttings ready for commercial farming in 2009, with a pilot processing plant expected to rise in Asia by the middle of next year at a cost of about NZ$26 million (US$20 million). The first refinery is expected to open by the end of 2009 at a cost of about NZ$78 million (US$60 million). (July 14, 2008)