Asiapac Capital Services Inc.
AsiaPac Capital Services to Enter Biodiesel Market
Asiapac Capital Services Inc. / Product Launch 11.02.2010 20:07 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Toronto, Canada - (For immediate release) - February 11, 2010 AsiaPac Capital Services Ltd.,: Deutsche Börse symbol: 5AP. (www .asiapaccapital.ca), announced today that it's Philippines based subsidiary, Asiapac Green Renewable Energy Corp. has entered into an agreement to set up a plantation to grow Jathropa plants from which biodiesel fuel will be processed. The Company has entered into a revenue sharing agreement with a group that owns 300 hectares of land (approximately 741 acres) which will be converted into a Jathropa plantation. Under the agreement, AsiaPac will be responsible for the initial planting, harvesting and processing of the Jathropa, and the landowners will earn a 20% share of the gross revenues generated therefrom. The plantation, located in Calabanga, Camarinas Sur in the Philippines has a land value estimated at $6.7 million. It will cost the Company roughly $400,000 to plant the Jathropa, and bring the plantation into production. Harvesting of the first crop of fruit will take approximately 6 months after planting. Initially, the fruit will be sold to existing third party processors in the Philippines as well as China. Preliminary agreements cover the entire crop, anticipated to be in the order of 6,000 tons of fruit per annum, from which 700,000 liters of bio-diesel can be processed. Annual revenue is projected at $800,000 for the plantation, and the Company intends to expand the plantation to roughly 5,000 hectares within the next two years, based on initial results with the crop. The Company also intends to raise sufficient capital to bring processing of the plant in-house, thereby maximizing the potential profitability form the endeavor. Company President, Mr. Samuel Lee, noted; 'In many ways, Jathropa is superior to traditional feed stocks being used to process bio-fuels. Perhaps the most important, is that it does not use food stock such as corn as an input, and therefore does not transfer crops out of the food chain where it can be better used to feed poorer countries.' The Jathropa plant is native to Central America, and bears fruit which, although toxic to humans, contains between 27% and 40% oil, depending on the genus and soil conditions. Goldman Sachs recently cited Jatropha curcas as one of the best candidates for future biodiesel production. Seed yields under cultivation can range from 1,500 to 2,000 kilograms per hectare, corresponding to extractable oil yields of 540 to 680 liters per hectare (58 to 73 US gallons per acre). Time Magazine recently cited the potential for as much as 1,600 gallons of diesel fuel per acre per year. The Company will be releasing further information on the project, and Jathropa generated bio-diesel at its website (http://www.asiapac-renewables.com) in the near future. Disclaimer & Safe Harbor Statement: This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. 'Safe Harbor' Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains certain 'forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995. For further information please contact: AsiaPac Capital Services Ltd. 557A Eglinton Ave West, Toronto, Canada M5N 1B5 Phone: 1-416-800-2080 Email: info@asiapaccapital.ca 11.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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