SG Biofuels to expand business, seeks strategic partners

US bioenergy solutions provider SG Biofuels is discussing potential partnerships with energy companies to further develop its technology in biofuel production and enter into global markets.

The company has begun talks with state-owned oil producers in African and Southeast Asian countries for the supply of biofuel created from plant sources for use in fuel blends.

SG Biofuels chief executive officer Kirk Haney told Bloomberg that the company is also looking for experienced developers with the ability to build and upgrade large agricultural projects.

The energy crop company is currently conducting a research on a Central American inedible plant named jatropha that has the ability to grow on poor land.

Seeds of the jatropha plant are taken to extract the maximum oil, which would later be used in the production of biofuel production.

The company had earlier partnered with Indian oil company Bharat Petroleum for the production of the material, planted across 86,000 acres.

The company has also entered into an association with Airbus, the Inter-American Development Bank and major Brazilian airline TAM SA to plant 75,000 acres in Brazil.

Haney told the news agency that the company will extend its footprint across several new markets with a capital rising from private investors planned during next year.

"We’d love to find a good partner in Europe to help us penetrate that market," Haney added.

The CEO further revealed that Deutsche Lufthansa AG (LHA) is one of the airlines willing use fuel produced from jatropha.