Green Oil launches biofuel investment scheme in Australia

U.K.-based renewable energy company Green Oil Plantations has initiated a new biofuel investment program in Australia. Green Oil Plantations now offers U.K. investors two opportunities to invest in a safe biofuel producing plantation, managed by its wholly-owned Green Oil Plantations Holdings Pty. Ltd. in Cairns Hinterland, Queensland. The first program is a short-term investment and requires a minimum investment of £10,000 (US$15,043), while the second is a long-term program, with a minimum investment of £16,000 (US$24,069). The biofuel crop being grown on the plantations is known as Millettia Pinnata. Native to Australia, the crop is anticipated to have many advantages over some of its rivals due to its 70-year productive lifespan. Also, each hectare planted with the super intensive plant will absorb more than 50 tons of carbon dioxide every year. (June 30, 2010)