Oilsource Holding Group has joined with Abundant Biofuels Corporation to begin producing biodiesel from non-food crops in Colombia. The company plans to plant 100,000 hectares with jatropha curcas. An estimated investment of $45 million.

"Our goal is to produce biodiesel and biomass for electricity needs in rural areas," said Felipe Cano, CEO of Oilsource Holding. "We will not compete with local palm oil, jatropha will be a smart, complementary alternative for the national Biodiesel Mission."

According to Mr. Cano, Abundant Biofuels' experience with jatropha in Africa will enable the joint venture to become the dominant producer of biodiesel producing biodiesel from jatropha in Colombia. The company believes it has identified a strong interest from private and government sector.

Charles Fishel, CEO of Abundant Biofuels added that jatropha is the only biodiesel feedstock that does not does not divert agricultural land from food production. "Jatropha has the added advantage of producing 20 times more energy than the energy that is required to produce it," Fishel said. "Most other feedstocks consume almost as much energy in production as the energy produced."

Mr. Cano concluded, "Alternative special crops available today like jatropha and algae and, in the near future, cellulosic diesel made directly from oil and biomass not only make social but economic sense as well."