Mission Biofuels signs 3-year feedstock deal

Mission Biofuels Limited announced that its Indian subsidiary, Mission Biofuels (India) Pvt Ltd. (MBIPL), has signed an agreement with an Indian district-controlled entity granting it exclusive, long-term access to jatropha curcas seeds from already planted lands, as well as access to additional land in the district that is to be planted with jatropha curcas over the next three years. The district authority has formed a producer company, which is owned by the farmers and jatropha growers in the district, which will be managed by the district authority. The district authority has, from funding received from the state and central governments under various programs, planted more than 25,000 acres of jatropha curcas during the last three years. Under the agreement, MBIPL has agreed with the producer company to provide technical inputs and know-how to the farmers; establish nurseries; and provide a primary processing center in the district to augment the efforts of the producer company. (September 3, 2007)