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17 Mar 2009 14:46
17 March 2009 AIM: GBF
GEM BioFuels Plc
("GEM" or the "Company")
Madagascar Political Unrest
The Directors of GEM BioFuels, the emerging Jatropha feedstock supplier to the global biodiesel industry, wish to advise that they are aware of recent reports of civil unrest and violence in Madagascar. This unrest has been confined to major population centres (e.g. the capital, Antananarivo) and has not impacted upon the Company's operations, which are largely based some 150 kilometres to the north and east of Toliara in the South West region of Madagascar.
Commenting on the situation Paul Benetti, CEO of GEM, said: "The Company's operations have been unaffected by the political tensions, which began in January, and our office in the South-West city of Toliara has not had cause to close at any time since the tensions began."
For further information, please contact:
|
GEM BioFuels PLC |
Paul Benetti |
+61 (0) 8 6365 3038 +61 (0) 407 039 379 |
|
WH Ireland Limited |
Tim Cofman-Nicoresti / Nicola Rayner |
+ 44 (0) 121 265 6330 |
|
Parkgreen Communications |
Louise Goodeve / Leah Kramer |
+ 44 (0) 20 7933 8790 |
NOTES TO EDITORS
About GEM BioFuels
GEM BioFuels was founded in 2004 to capitalise on the opportunity presented by the local agricultural and socio-economic conditions in Madagascar to produce Jatropha oil for use as a biodiesel feedstock. Operations are based in the South of the island where the Jatropha tree grows wild.
The Company has secured 50 year agreements giving exclusive rights over 452,500 hectares (in excess of 1 million acres) to establish plantations, ranging in size from 2,500 - 50,000 hectares with a further 40,000 hectares of natural forest containing substantial numbers of mature Jatropha trees.
GEM BioFuels Plc was admitted to trading on AIM in October 2007.
Jatropha
Jatropha is a small tree/shrub, growing to about 5 metres in height and is well suited for use in the production of biodiesel. Jatropha trees are relatively drought resistant and suitable for cultivation in sub tropical regions. The high oil yielding seeds are mildly toxic and as such Jatropha is not a food and its use in biodiesel production does not affect the cost of living of the indigenous population. Biodiesel refined from Jatropha oil complies with international standards, including EN14214 in Europe, the major market for biodiesel.
Whilst the current production of Jatropha seed for commercial purposes is small, it is substantially increasing due to its attractiveness as a biodiesel feedstock because of its ability to grow on marginal land and the fact that it is non-edible and so does not fall foul of the 'food versus fuel' debate.
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