September 12, 2008

Leviev, Evogene and Orfuel to Establish Biodiesel Company in Namibia

Leviev Group subsidiary LL Biofuel Namibia, Evogene and Orfuel, a subsidiary of Ormat Industries, have signed an agreement to establish a new company in Namibia focused on the growth of specialized castor plants for use as feedstock for biodiesel.

The new company will have operations in Namibia and possibly other locations in Africa. According to the terms of the agreement, the new company will examine various castor varieties in field tests in Namibia.

Following the selection of best performing varieties, the new company will work to commercialize and grow the selected varieties on a commercial scale in Namibia, and possibly in other locations in Africa.

Evogene will provide the new company with the castor varieties for evaluation, and will utilize its knowledge and capabilities in plant growth. The Leviev Group will provide access to lands for crop growth in Namibia and logistical infrastructure for the project.

In addition, the Leviev Group will contribute its experience and knowledge in establishing projects in Namibia and in other southern African countries.

Eli Nefussy, CEO of the Leviev Group in Namibia, said: "Renewable energy and alternative fuels are fields of high importance to the Leviev Group. I am confident that the experience of the Leviev Group in Africa together with the technology and knowledge of Evogene and Orfuel through the utilization of arable lands will result in breakthroughs in these fields."