28-29 Sep, 2017 - Johannesburg, SOUTH AFRICA
Radisson Blu Hotel Sandton
Radisson Blu Hotel Sandton
African oil trading company Taleveras Group is planning to form a joint venture with Global Green Development Group
to build a biorefinery in the USA.
Taleveras Group plans to start farming collectives in Africa – that will grow jatropha, whose seeds can be turned into feedstock for producing biofuel. It plans to refine these jatropha seeds in Mississippi and then sell the biofuel to the U.S. market.
It is expected that the first phase of the project will incur a cost of $400 million to $600 million – that will produce an annual 70 million gallons of biofuel. Taleveras expects to begin operating in two to three years’ time.
It is already in the process of setting up farms in Nigeria and other African countries to cultivate jatropha. Taleveras requires a minimum of 15,000 hectares of land to kick off the project and it is in talks with state governors in Nigeria, Ivory Coast, Ghana, South Africa and Ethiopia for the same.
As biofuels are being tested to be used in the aviation industry, Taleveras and its partners are mainly eyeing to sell the biofuel to the U.S. military that can be blended with jet fuel.
The aviation industry signed a United Nations accord last October to reduce pollution, which requires airlines to counter emissions growth after 2020. Some companies such as Virgin Atlantic Ltd. are testing greener jet fuels, but strict regulations on safety have proven a roadblock to implementation.
Despite, President Donald Trump’s decision to pull the U.S. out of the Paris agreement and try to bolster fossil fuels such as coal in the U.S., Taleveras is confident that its biofuel project is still viable.
Taleveras trades over 100 million barrels of crude oil annually, as well as gasoline, jet fuel and LPG. It is also developing and operating blocks off the coasts of Nigeria, Ivory Coast and Equatorial Guinea.
More about biofuels in Africa at CMT’s Africa Biomass & BioEnergy Summit on 28-29 September, 2017, in Johannesburg.
Email Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more information.
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