Reinaas to chair Norwegian biofuel firm

By | November 20, 2007
Jan Reinaas, former chairman of Norway's state-owned oil company StatoilHydro ASA, is joining Norwegian biodiesel supplier BioFuel AS as chairman of the board. BioFuel is raising US$6.5 million to finance the planting of 20,000 hectares (50,000 acres) of jatropha in Ghana. Another 288,000 hectares (712,000 acres) has been secured through a letter of intent. BioFuel said it plans to start jatropha oil production in late 2008. The goal is to produce 25,000 barrels (1 million gallons) of jatropha oil per day within eight years.
 
 
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