Biofuels company projects 25% growth in revenues

Biofuels Asia, a Singapore-based clean-energy company, is betting on jatropha, a hardy plant that is a source of biodiesel. “The Europeans have come up with a renewable energy directive, which basically says by the year 2020, 20% of their energy has to come from green and renewable sources such as biofuels. So we’ll see the demand growing,” Richard Yong, CEO, Biofuels Asia, said. He said the company’s jatropha variety can produce as much as 5 tons of oil per hectare per year, compared to most varieties that can only produce 1.8 to 2 tons. “Because of that, it makes the economics of biofuel very attractive,” he said. Biofuels Asia is in discussions to set up a 700 square kilometer plantation in China, and is currently developing a 2,000 hectare plantation in Malaysia. The company expects about 25% growth in revenue for the next five years and plans to list in either Hong Kong, London or Singapore by the end of the year. (February 18, 2011)