LONDON (Alliance News) - Legendary Investments PLC saw its shares rise early Monday after it said that Bosques Energeticos EBE S.A. de C.V., one of its portfolio companies, has secured more land on which to grow its recently cultivated non-toxic, high-yielding G4J jatropha.
The harvested seeds from jatropha can be turned into a biodiesel and the residue into a cake for use as animal feed. Mexico-based Bosques has been breeding the plant to improve yields.
Last November, Legendary said Bosques had developed an early and high-yielding, as well as non-toxic, cultivar of jatropha called G4J.
Since then, Bosques has secured an additional 7 hectares of land in the state of Morelos, which neighbours the location of its initial 11 hectare plantation. The land in Morelos is being used exclusively to grow G4J jatropha and there are currently 8,000 G4J jatropha plants growing on the land.
"This development further demonstrates that Bosques is able to take plants developed in one area and conditions and successfully cultivate them elsewhere," Legendary said.
Bosques now has 18 hectares under cultivation in total, including 16,000 pongamia trees, 28,000 jatropha plants, of which 14,000 are G4J jatropha, and 3,000 castor plants.
Legendary Investments shares were up 14.3% at 0.12 pence early Monday.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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