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Thursday, July 21, 2011

New Car Designed To Run Entirely On Algae

Greetings!  The world of renewable energy may recently have made a step in a new direction... with a car that runs on micro algae biodiesel.  This week it has been reported that researchers claim to have accomplished this feat.  The article below, taken from the Deccan Herald, can be found at:

Researchers have claimed to have run a car on B-20 biodiesel derived from marine micro algae.

Under the New Millennium India Technology Leadership project (NMITLI), a regular diesel vehicle, Tavera, under full load condition, was successfully test driven on B-20 biodiesel (20 per cent biodiesel blend) on July 10, a top official of the Council of Scientific and Industrial Research (CSIR) said.

The project was initiated last year jointly by CSIR and the Ministry of Earth Sciences (MoES), along with researchers from nine institutions, including CSMCRI, IIT-Kharagpur, IICT-Hyderabad, NIOT-Chennai and NIO-Goa.

The biodiesel was prepared from mats of microalgae found growing naturally in the West coast of India by the Bhavnagar-based Central Salt Marine and Chemical Research Institute (CSMCRI).

The mileage derived from the test drive was 12.4 km, which is better than the normal average per litre of 10-11 km of the regular vehicles run on diesel, the official said.

“The aim of the project is to develop a scalable viable process for production of bio-fuel from marine algae. In the first step, road worthiness of B-20 marine micro algae biodiesel under full load conditions has been proven,” NMITLI coordinator Dr Vibha Malhotra told PTI on telephone.

“The next step would be to run vehicle under full load conditions on B-100 (neat biodiesel) marine micro algae biodiesel and to look at its economic viability,” she said.

“Although the demonstration aimed at proving road worthiness of micro-algal biodiesel, it remains to be seen whether such mat-forming marine micro algae can be cultivated inland or induced to grow rapidly and on large scale in the sea itself,” said CSMCRI Director Dr Pushpito Ghosh.

Wednesday, July 13, 2011

Investment company Jaspen Capital Partners acted as a transaction co-lead manager for the London Stock Exchange placement of 3 year Eurobonds for Agroton Public Limited (ticker: AGT PW). The notes have a face value of $50 million.

Investment company Jaspen Capital Partners acted as a transaction co-lead manager for the London Stock Exchange placement of 3 year Eurobonds for Agroton Public Limited(ticker: AGT PW) on July 12, 2011. The notes have a face value of $50 million; VTB Capital, Dragon Capital, UBS Investment Bank and Bank Zachodni WBK also were managers in the transaction.

Agroton, a publicly traded company on the Warsaw Stock Exchange, completed the placement of its debut $50 million, 3 years Eurobond issue with a coupon rate of 12.5% paid semi-annually. During the placement, demand from international investors (mainly Western European funds) exceeded the offered amount.

Agroton plans to utilize the Eurobonds proceeds to refinance existing debt, increase capacities of grain and oilseeds silos, increase its farmed land bank and to ultimately purchase its land bank after the moratorium on sales of agricultural land is lifted in Ukraine.

Andrey Supranonok, CEO of Jaspen Capital Partners, stated “Agroton’s recent Eurobonds placement is one of the largest transactions to date this year for a Ukrainian company on the international capital markets. The interest level demonstrated by fixed income investors, despite a global decrease in risk appetite stemming from the Greek and European debt predicament, shows firm market confidence in Agroton’s management and strategic direction. This show of confidence during a time of uncertainty essentially restates the original positive view held by equity investors during the company’s Warsaw Stock Exchange debut last November. It furthermore indicates a continued desire for Ukrainian deals from the international investment community, sending a positive signal to similarly situated companies considering additional transactions this year.”