(Notícia em Inglês)
Aura Bio, a company focusing on developing and investing in clean energy projects, has entered into a formal partnership agreement with Tolao Energy.
The company has completed its due diligence assessment of the agricultural biodiesel project in Cross River State, Nigeria. Under the terms of the formal partnership agreement, Aura can earn a 10% working interest in a proposed project.
The project will reportedly involve the use of 3,000 hectares of arable land suitable for the purpose of jatropha feedstock cultivation and bio fuel production. The project also includes the development of a biodiesel plant with an initial annual production capacity of 37.5 million liters, with the intent of increasing annual production to over 70 million liters within the first 12 months of production. As part of the agreement, Tolao has received its two million common shares of the company as the first payment.
Harry Lappa, president and CEO of Aura, said: "Aura is extremely pleased to have finalized this formal agreement with Tolao Energy Nigeria on the development of this clean energy biodiesel project. We feel the focus of Aura, and more specifically the development of this project, is perfectly in line with the increased global emphasis and demand for cleaner, sustainable alternative fuel sources."
istockanalyst.com»
Aura Bio, a company focusing on developing and investing in clean energy projects, has entered into a formal partnership agreement with Tolao Energy.
The company has completed its due diligence assessment of the agricultural biodiesel project in Cross River State, Nigeria. Under the terms of the formal partnership agreement, Aura can earn a 10% working interest in a proposed project.
The project will reportedly involve the use of 3,000 hectares of arable land suitable for the purpose of jatropha feedstock cultivation and bio fuel production. The project also includes the development of a biodiesel plant with an initial annual production capacity of 37.5 million liters, with the intent of increasing annual production to over 70 million liters within the first 12 months of production. As part of the agreement, Tolao has received its two million common shares of the company as the first payment.
Harry Lappa, president and CEO of Aura, said: "Aura is extremely pleased to have finalized this formal agreement with Tolao Energy Nigeria on the development of this clean energy biodiesel project. We feel the focus of Aura, and more specifically the development of this project, is perfectly in line with the increased global emphasis and demand for cleaner, sustainable alternative fuel sources."
istockanalyst.com»