Mission NewEnergy, JOil team up on jatropha production

(ADPnews) - Dec 20, 2010 - Australian biodiesel producer Mission NewEnergy Limited (ASX:MBT) said last Thursday it signed a memorandum of understanding with Singapore-based jatropha company JOil Pte Ltd to jointly grow plants and trees from elite jatropha seedlings in Asia.

As part of the deal, JOil, which is a joint venture of Temasek Life Sciences Laboratory, Indian Tata Chemicals Ltd (BOM:500770) and Japanese trading group Toyota Tsusho (TYO:8015), 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 variation of jatropha that provides higher yields per acre and has a shorter gestation time.

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