Asiapac Capital Services Inc.
AsiaPac Capital Services Update on Jatropha Production
Asiapac Capital Services Inc. / Product Launch 14.04.2010 08:30 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Toronto, Canada - (For immediate release) - April 13, 2010 AsiaPac Capital Services Ltd.,: Deutsche Börse symbol: 5AP. (www .asiapaccapital.ca), is pleased to provide an update on its Jatropha production project It's Philippines based subsidiary, Asiapac Green Renewable Energy Corp. has begun clearing and preparing the land in advance of planting the Jatropha plants. The Company has a revenue sharing agreement with a group that owns 300 hectares of land (approximately 741 acres) upon which there is an existing coconut plantation. The Jatropha will be intercropped with the coconut trees, 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 at an outstanding pace. Governments worldwide are mandating the use of fuel from renewable sources. For example, the EU will require 20% of its final energy consumption to be derived from renewable sources. More importantly, there are increasing requirements to mandate that these fuels do not compete or convert food crops and divert them away from human consumption. It must also be remembered that Jatropha is a relatively low-cost feedstock that will grow well in soil that would not support food crops. In these respects, 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 research on improving yields from the plants and improvements in the processing of fuel from Jatropha. These factors will all add to the economic viability of this business unit. In short, we believe interest in Jatropha is gaining traction worldwide, with major initiative ranging from India to China. We are well positioned to take advantage of this growth.' Disclaimer & Safe Harbor Statement: This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as 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 the meaning 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 1B5 Phone: 1-416-800-2080 Email: info@asiapaccapital.ca 14.04.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found