Italian company receives €900k for biofuels production
Italy-based Agroils Technologies has received investment funds of €900,000 from X-Capital, which it says it will use to develop technology to produce biofuel, protein biomass for animal feed and jatropha.
The process of production was developed by Roberto Crea, who also developed the first recombinant production of human insulin at Genentech in California in 1978.
‘The industrial process we intend to develop may allow us and other organisations involved in jatropha cultivation to produce both a superior biofuel and considerable quantity of biomass to use as protein meal, significantly increasing the profitability and the sustainability of projects focused upon Jatropha and its byproducts,’ says Agroils Technologies’ CEO Giovanni Venturini Del Greco. ‘The process will allow to fully exploit the capacity of jatropha to grow in low rainfalls areas and, therefore, to allow the production of protein based feed comparable to soy meal.’
Crea adds: ‘The possibility to separate valuable multi-components from one process opens the door to substantial technological and social development opportunities. We are now in the position to develop and implement a great opportunity which, if successful, could change the future.’
Giorgio Costacurta from IAG Partners, which was also involved in the investment, says: ‘I would like to point out that the cultivation of Jatropha contemplates the exploitation of marginal lands, often with the purpose to fight desertification phenomena affecting entire areas of the planet: the possibility offered by Agroils’ technology to convert a bio-waste into a edible animal feed will significantly impact the countries where the food chain is still a big issue. In that sense, we consider this to be an ethical investment.’