Itochu buys 4% stake in U.S. alternative energy company

Itochu, a Japanese trading company, has bought a 4% stake in U.S.-based alternative energy company Benefuel. Itochu plans to use a Benefuel catalyst in its development of a biodiesel operation in Asia. The goal is to manufacture a cheaper and more efficient biodiesel fuel. Benefuel’s catalyst converts fat, oil and fatty acids to biodiesel. The catalyst also produces a byproduct of high purity glycerin, which has applications in industry. Itochu has started experiments in a pilot plant with biodiesel fuel manufacturer Daiki Axis in Japan. It aims to develop operations using the technology in markets in Asia by 2012. (March 2, 2011)