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VayuGrid inks MoU with Ethiopia for biofuel park

According to reports, VayuGrid, a biofuel supply chain company based in Bangalore, has signed a memorandum of understanding (MoU) to create a biofuel cluster around its VayuSap — high-yield Pongamia in Ethiopia.

The company said the cluster will create a $2.5-million biofuel investment opportunity and is part of a larger government plan to develop a biofuel park in Ethiopia.

Starting with a 2,000 acre, the long-term goal is to create a cluster of 100,000 acres under a collaborative model.

This biofuel park is a critical step to reduce the country’s commitment of 87 per cent of free cash on imported crude, while at the same time creating local job opportunities and an ecosystem of value-added businesses.

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