Global Clean Energy Holdings, Inc. (OTCBB: GCEH) through its subsidiary GCE Mexico I, LLC has acquired approximately 5,000 acres of land in the State of Yucatan in Mexico for the cultivation of Jatropha curcas. When fully planted the land will be home to over 4.0 million Jatropha trees, which will produce seed oil and biomass for renewable energy use for approximately 30 years.
"The acquisition of this land puts us right on track with our business plan for the commercialization of Jatropha in Latin America," said Richard Palmer, CEO of Global Clean Energy. "This land has the ideal climate to grow Jatropha and keeping with our corporate philosophy, has never been used for agriculture or food production. We have already begun preparing the land for planting and will have plants in the ground this month."
GCE Mexico I, LLC is a 50-50 joint venture with Los Angeles Businessmen Stewart A. Resnick and Selim K. Zilkha, both highly accomplished entrepreneurs who have developed successful agricultural and alternative energy companies. The joint venture’s mission is to acquire and develop non-food based land in Mexico to grow Jatropha curcas and commercialize oil and biomass derived from its fruit and seeds. Global Clean Energy Holdings, Inc. manages the operations of the corporation and consolidates the results for financial reporting purposes.
Mr. Resnick is chairman and owner of Roll International Corporation, a Los Angeles-based holding company, and has developed and owns a number of companies, including Paramount Agribusiness, POM Wonderful, Teleflora, FIJI Water, and Suterra. Mr. Zilkha formed Zilkha Renewable Energy, a wind farm developer, in 1998 and sold it to banking giant Goldman Sachs in 2005. Currently he has business interests in Zilkha Biomass Energy, a company developing biomass to electricity solutions in the United States; Socratech, a biotech company that has as its goal the diagnosis, treatment and prevention of a variety of brain disorders; and Laetitia, a vineyard and winery in Arroyo Grande, CA.
About Global Clean Energy Holdings
Global Clean Energy Holdings, Inc. is an emerging renewable energy company focused on the production of non-food based feedstocks used for the production of biofuels.
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