PSource Struct Debt

Portfolio Update

RNS Number : 3634J
PSource Structured Debt Limited
06 August 2012
 



 

 

 

 

 

6 August 2012

 

 

PSource Structured Debt Limited ("the Company")

Parabel signs license contract in Ecuador

 

PSource Structured Debt Limited (LSE: PSD, the "Company"), confirms that its largest holding Parabel has signed a license contract with a subsidiary of Probac S.A., an Ecuadorian animal feed distributor. The announcement from Parabel is set out below.

 

Parabel, Inc. and FertiGreen (a subsidiary of Probac S.A.) Sign License Agreement

End products to include alternative to fishmeal

 

MELBOURNE, FL - August 03, 2012 - Parabel, Inc. (OTCQB: PABL) and its operating company PA LLC, a global provider of micro-crop technology and solutions for the renewable production of feed, food and fuel, today announced that it has finalized a Master License Agreement with FertiGreen, a subsidiary of Probac S.A. for the implementation of a commercial-scale license unit in Ecuador.

 

The agreement provides a framework for the construction and operation of a commercial-scale license unit of approximately 5,000 hectares. The first phase will consist of 300 hectares.

 

"As a result of successful testing, we believe micro-crop production at the industrial level has the potential to become a staple in the animal feed industry in Ecuador," said Jorge Jalil P., General Manager.

 

To date, Parabel has entered into contracts with customer licensees in Ecuador, Chile, Malaysia and China. In total, the agreements contemplate the construction of thirteen full-scale license units, representing an order book value of over $4 billion.

 

"On the heels of our announcement with Lemna Asia last month, we are excited about this agreement with Probac and their commitment to supply an alternative to conventional, supply constrained protein sources," said Anthony Tiarks, CEO of Parabel.

 

While third-party tests have confirmed the value of Parabel's animal feed applications in aquaculture, poultry, and dairy cattle diets, Parabel's protein product could qualify as the first major new plant protein source for humans since soy entered the human diet in the 1950. Parabel's commercial-scale solution is designed to promote economic, social and environmental development, through reliable, year-round production that absorbs atmospheric carbon dioxide, promotes local food security, and does not require arable land, or pollute soil or water.

 

In addition, the company's technology enables the production of a renewable fuel feedstock that, with third-party conversion systems, can provide the basis for cellulosic gasoline, diesel, and jet hydrocarbon fuels that are virtually indistinguishable from petroleum-based fuels.

 

For further information, please contact:




PSource Capital Limited

+44 20 7925 3156

Soondra Appavoo


 


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