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Viridas

  • BY: Andrew Hore |
  • POSTED: 17/04/2008 |

Viridas has entered into a strategic partnership with biodiesel supplier INEOS Enterprises. 

INEOS will be a customer for the Jatropha that Viridas plans to produce in Brazil. It has biodiesel facilities in Baleycourt, France.

Viridas has acquired 250,000 hectares of idle land in Brazil, which is expected to have an annual production of 500,000 tonnes of sustainable Jatropha oil.

Loss-making Viridas used to be known as Caldwell Investments, when it sold products based on its Nina Clip design and distributed Romanian underpants. The Nina clip business has been discontinued and the underpants business is being rationalised.

The shares rose 1.25p to 15p, which values the company at £3.67m. It will be difficult for such as small company to prosper in the biodiesel sector but the deal with INEOS should help. 

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