Mission NewEnergy, JOil to jointly grow jatropha

Australian biodiesel producer Mission NewEnergy Ltd. said it signed a memorandum of understanding (MoU) with Singapore-based jatropha company JOil Pte. Ltd. to jointly grow plants and trees from select jatropha seedlings in Asia. As part of the deal, JOil, which is a joint venture of Temasek Life Sciences Laboratory, Indian Tata Chemicals Ltd. and Japanese trading group Toyota Tsusho, will provide jatropha seedlings for Mission’s coming planting seasons in India, starting from 2011. In addition, the two companies will engage in jatropha plantation developments in Indonesia and Malaysia, as well as explore possible merger and acquisition and investment opportunities. JOil has developed a variety of jatropha that provides higher yields per acre, with a shorter gestation period. (December 17, 2010)