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Craton Equity funds Mozambiquan biofuels

Craton Equity Partners, a Southern California, US-based clean technology fund, has made a commitment of $10 million (€7.9 million) to Principle Energy Limited (PEL), a sustainable biofuel development company with projects that target sub-Saharan Africa.
PEL is developing a sugarcane ethanol operation in Mozambique. The project is expected to manufacture around 60 million gallons of ethanol a year at full production.

Craton's investment will contribute to the ramp-up and working capital needs of the Mozambique Dombe project, including the construction of the ethanol production facility, and the cultivation of 18,000 hectares (45,000 acres) of sugarcane feedstock.


Additional information:
News date: 23/02/2009

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