Biodiesel co Galten looks to TASE IPO

Galten uses the seeds of the inedible Jatropha plant to produce biodiesel.

1 March 09 14:55, Merav Ankori

Biodeisel start-up Galten Inc. is considering an IPO on the Tel Aviv Stock Exchange (TASE). The Kadima-based company wants to raise $10 million. Xpert Financial Group will handle the IPO.

Galten uses the seeds of the inedible Jatropha plant to produce biodiesel. Jatropha seeds have an oil content of 31-37%. The company says that the plant can be used instead of edible crops for first-generation biodiesel. It notes that ten dunam (2.5 acres) of edible crops such as corn or soy beans can produce one ton of oil, whereas the Jatropha variety developed by the company can produce three tons.

Last summer, Galten completed a pilot program that demonstrated the feasibility of the R&D at a 250-acre site in Ghana. The company currently grows Jatropha at a 1,000-acre site in the country.

Galten chairman and COO Doron Levi and CEO Shlomi Jonas founded the company in 2006.

Published by Globes [online], Israel business news - www.globes-online.com - on March 1, 2009

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