FutureWorld to buy stake in Indian biofuels lab

U.S. green energy holding company FutureWorld Energy said it has signed a letter of intent to buy an interest in Enhanced Biofuels and Technologies (EBT), an Indian biofuels research laboratory. The acquisition of EBT, a developer of advanced jatropha-related technology, fits FutureWorld’s long-term strategy to put into production plantations of jatropha in India, Southern Africa, Asia, Central and South America. In mid-2008, auditor Ernst & Young estimated the value of EBT’s jatropha technology at between US$80 million and US$100 million. (September 1, 2009)