DGAP-News: AsiaPac Capital Services Update on Jatropha Production
14. April 2010 08:32
Asiapac Capital Services Inc. / Product Launch14.04.2010 08:32 Dissemination of a Corporate News, transmitted byDGAP - a company of EquityStory AG.The issuer / publisher is solely responsible for the content of this announcement.--------------------------------------------------Toronto, Canada - (For immediate release) - April 13, 2010AsiaPac Capital Services Ltd.,: Deutsche Börse symbol: 5AP. (www.asiapaccapital.ca), is pleased to provide an update on its Jatrophaproduction project It's Philippines based subsidiary, Asiapac GreenRenewable Energy Corp. has begun clearing and preparing the land in advanceof planting the Jatropha plants.The Company has a revenue sharing agreement with a group that owns 300hectares of land (approximately 741 acres) upon which there is an existingcoconut plantation. The Jatropha will be intercropped with the coconuttrees, and it is anticipated that the actual planting will begin in June,in order to coincide with the beginning of the Philippine rainy season.Company President, Mr. Samuel Lee, noted; 'The biofuel market is growing atan outstanding pace. Governments worldwide are mandating the use of fuelfrom renewable sources. For example, the EU will require 20% of its finalenergy consumption to be derived from renewable sources. More importantly,there are increasing requirements to mandate that these fuels do notcompete or convert food crops and divert them away from human consumption. It must also be remembered that Jatropha is a relatively low-cost feedstockthat will grow well in soil that would not support food crops. In theserespects, Jatropha is an ideal feedstock for biofuel.Additionally, we are seeing important developments on the production side,with the introduction of mechanical harvesters, a growing body of researchon improving yields from the plants and improvements in the processing offuel from Jatropha. These factors will all add to the economic viabilityof this business unit. In short, we believe interest in Jatropha isgaining traction worldwide, with major initiative ranging from India toChina. We are well positioned to take advantage of this growth.'Disclaimer & Safe Harbor Statement: This release includes forward looking statements, which are based oncertain assumptions and reflects management's current expectations. Theseforward looking statements are subject to a number of risks anduncertainties that could cause actual results or events to differmaterially from current expectations. The Company disclaims any intentionor obligation to update or revise any forward looking statements, whetheras a result of new information, future events or otherwise. 'Safe Harbor'Statement under the U.S. Private Securities Litigation Reform Act of 1995:This release contains certain 'forward-looking' statements within themeaning of the Private Securities Litigation Reform Act of 1995. For further information please contact: AsiaPac Capital Services Ltd.557A Eglinton Ave West,Toronto, Canada M5N 1B5Phone: 1-416-800-2080 Email: info@asiapaccapital.ca14.04.2010 08:32 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de-------------------------------------------------- |
