SOURCE: Mission NewEnergy

Mission NewEnergy

February 01, 2011 11:30 ET

Mission NewEnergy Announces Successful Jatropha Planting Season Expanding New Acreage by Over 30%

SUBIACO, AUSTRALIA--(Marketwire - February 1, 2011) - Mission NewEnergy Limited (ASX: MBT), a vertically integrated biodiesel producer and one of the world's largest Jatropha plantation companies, is pleased to announce results of the Jatropha planting season as follows:

  • Outperformed projected new Jatropha planting target;
  • Increased overall productive acreage by over 30%;
  • Added 15,460 new farmers to network; and
  • Concentrated expansion in most productive locations.

Mission planted approximately 64 million Jatropha trees versus a target of 50 million, which included providing around 32.7 million Jatropha saplings to existing contract farmers, increasing the future productivity of these farmers.

Mission added approximately 46,118 new Jatropha contract farming acres, bringing Mission's total productive acreage to approximately 194,323.

The Government of India, Department of Land Resources has specifically identified 40.8 million acres of waste land as suitable for Jatropha cultivation and has publicly encouraged Jatropha development throughout India. Mission's existing acreage represents less than 0.5% of this available acreage.

Pursuant to Mission's strategy to continually improve its acreage profile, the recent planting activities were concentrated to states and farmers that have historically been the most productive.

Mission continues to monitor and manage and support its contract farming operations using its proprietary agronomy GPS enabled management system. We expect that these systems and Mission's extensive experience will result in higher acreage productivity, driven by enhanced farmer selection, agronomy education, nursery activities, sapling delivery, planting techniques and acreage concentration.

For more information and a copy of this announcement, please visit: www.missionnewenergy.com or contact:

Contact Information

  • Company Contact:

    James Garton
    Head Corporate Finance, M&A
    Mission NewEnergy Limited
    + 61 8 9443 1006
    Email Contact