Biofuels: Geocapital negotiates research centre in Cape Verde

27 March 2009

Hong Kong, China, 27 March – Geocapital is negotiating the set up of a biofuel research and development centre in Cape Verde, the Macau-based holding company’s chairman and shareholder, Jorge Ferro Ribeiro said Thursday.

With interests in the Cape Verdean financial sector and development projects for biofuel production in Guinea Bissau and Mozambique, Geocapital wants to make use of Cape Verde’s experience in producing jatropha, the plant it plans to use in Africa to produces green fuels.

Ferro Ribeiro also told Portuguese news agency Lusa that the research centre had “as its point of historical reference a fact that is not well known, but is of great interest,” which is that Cape Verde at the beginning of the last century was a great producer and exporter of jatropha to France and Portugal.

“At that time jatropha was already used as alternative energy and provided public lighting for important urban areas in Portugal,” he said.

Ferro Ribeiro also noted that there were still jatropha plantations in Cape Verde, which boosted the “reason” for the partnership, which is to complement a cooperation agreement that Geocapital signed in Lisbon with the Institute of Tropical Scientific Research also for research related to biofuel production.

Ferro Ribeiro noted that in Guinea Bissau and Mozambique planting of jatropha was due to begin at the end of 2009 or beginning of 2010, which would make it possible to produce biofuel, ”within two to three years.” (macauhub)