L.L Biofuel Namibia (PTY) Ltd., of Leviev Group and Evogene Ltd., and US subsidiary of Ormat Industries Ltd. Orfuel Inc., have joined together to establish a new company aimed at growing specialized castor plants for use as feedstock for biodiesel with headquarters located in Namibia.
The new company will examine various castor types in field tests in Namibia and then will work to commercialize and grow the selected varieties with the possibility to expand to other African countries. The production cost of the high-yield crop is anticipated to be significantly lower than the cost of biodiesel produced from crops currently being used, like soybean and canola.
Eli Nefussy, CEO of the Leviev Group in Namibia, stated: "Innovation is one of the key elements guiding the business strategy of the Leviev Group. Renewable energy and alternative fuels are fields of high importance to the Leviev Group. I am confident that the experience of the Leviev Group in Africa together with the technology and knowledge of Evogene and Orfuel through the utilization of arable lands will result in breakthroughs in these fields. We are pleased to be partners in such an innovative project, and hope that this collaboration will be a significant layer in creating renewable resources."
"This collaboration fits well into Evogene’s business model in the field of biodiesel, and constitutes an additional stage towards commercialization of the plants developed through the joint project with Orfuel in one of the potential target locations," stated Ofer Haviv, Evogene’s president and CEO. "We are convinced that with our extensive capabilities in plants together with the vast experience of the Leviev Group in Africa, we will be able to develop improved feedstock addressing the needs of the alternative fuel industry."
