TIDMPSD
RNS Number : 2874F
PSource Structured Debt Limited
13 June 2012
13 June 2012
PSource Structured Debt Limited ("the Company")
Parabel signs agreement in Malaysia
PSource Structured Debt Limited (LSE: PSD), the London listed
fund (in managed wind down) confirms that its largest holding,
Parabel (formerly PetroAlgae) has signed a license agreement in
Malaysia.
The text of Parabel's announcement is set out below:
Parabel, Inc. and Lemna Asia SDN BHD Sign License Agreement
Confirms pathway for commercial-scale production in Malaysia
MELBOURNE, Fla. -- June 13, 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 Lemna Asia SDN BHD
for the implementation of a commercial-scale license unit in
Malaysia.
The agreement provides a framework for the construction and
operation of a commercial-scale license unit of approximately 5,000
hectares, which may consist of modules in different locations in
Malaysia.
"Lemna Asia, in collaboration with government agencies such as
the Perak State Development Corporation, is committed to developing
a long-term partnership with Parabel to promote food and energy
security, both in Malaysia and wider Asian markets," said Halim
Aziz, Director of Lemna Asia. "Together, we hope to deliver
substantial job creation and economic growth, helping to advance
the Malaysian government's Economic Transformation Program (ETP)
initiative, which aims to transform Malaysia into a high-income
economy by the year 2020."
To date, Parabel has entered into contracts with customer
licensees in Malaysia, China and Chile. In total, the agreements
contemplate the construction of twelve full-scale license units,
representing an order book value of approximately $4 billion.
"In 2012, Parabel has accelerated its commercialization and is
now working with customers worldwide to deliver a substantial order
book," said Anthony Tiarks, CEO of Parabel. "Following the
announcement of our CECEP agreement last month, this contract with
Lemna Asia demonstrates the increasing demand for our technology in
Asia, as well as our commitment to serve critical food and energy
needs in large, emerging economies."
Parabel's commercial-scale solution is designed to promote
economic, social and environmental development, through local,
reliable, year-round production that absorbs atmospheric carbon
dioxide and does not compete with the existing food supply, require
arable land, or pollute soil or water.
Parabel's protein product could qualify as the first major new
plant protein source for humans since soy entered the human diet in
the 1950s, while third-party tests have confirmed the value of
Parabel's animal feed applications in aquaculture, poultry, and
dairy cattle diets.
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.
About Parabel, Inc.
Parabel Inc. (OTCQB:PABL), based in Melbourne, Florida, provides
renewable technology and solutions to meet the significant and
growing demand for feed, food, and fuel in global markets. The
company's solution is designed to deliver strong economic returns
to customer licensees as a consequence of continuous, year-round
production operations. Parabel also intends to provide social and
environmental benefits, through job creation, community investment,
food security promotion, and sustainable production. For more
information about Parabel, please visit our website at
http://www.parabel.com.
About Lemna Asia SDN BHD
Lemna Asia SDN BHD is a privately-owned company, partnered with
Malaysian government agencies to deliver significant value in
renewable energy and related technology solutions. Lemna Asia's
state agency links and alignment with the Malaysian government's
ETP initiative provide a strong basis for long-term success in the
renewable feed, food and fuel sectors.
For further information, please
contact:
PSource Capital Limited +44 20 7925 3156
Soondra Appavoo
This information is provided by RNS
The company news service from the London Stock Exchange
END
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