Jatoil signs MOU with Waterland

Australia’s renewable energy company Jatoil Ltd. has signed a memorandum of understanding (MOU) with PT Waterland International, “a leading European-backed jatropha biofuel producer”. The MOU outlines a potential transaction that would involve Jatoil buying a controlling interest in 1,000 to 2,000 hectares of established jatropha farming ventures in central Java, Indonesia, with plans for considerable expansion and short-term revenue generation. Jatoil will now undertake a formal due diligence process in relation to the potential transaction. If completed, the Waterland venture would give Jatoil another important production center in Asia to add to its existing Vietnamese joint venture operations. (August 18, 2009)