Tuesday 12 February 2013, Bangalore, India
The BioCube Corporation has signed a Memorandum of Understanding with VayuGrid Marketplace Service Limited, headquartered in Bangalore, to provide mutual support to develop business in India.
VayuGrid is a for-profit social enterprise that creates biofuel supply chain clusters with rural communities, governments and industry. It has IP ownership of an elite strain of Pongamia sapling branded VayuSap™ that helps create feedstock predictability in the supply side. As a biofuel Supply Chain Value Manager, VayuGrid integrates the demand side with the supply side through assured buy-back contracts of pods from the biofuel plantation clusters. VayuGrid’s business model assures all the intermediaries in the value chain; supply side plantation clusters, midstream processors and downstream B2B consumers, will benefit.
The BioCube becomes an integral part of the solution, providing a decentralized solution to process Pongamia SVO to biodiesel, at the nearest point of consumption, thus doing away with the need to transport fuel across large distances, leading to increase in costs. BioCube Corporation and VayuGrid have agreed to collaborate in jointly marketing each other’s offerings in a complete biofuels solution with target markets in India and Africa. Prospective customers include Cell Tower operatives, mining companies and commercial enterprises.
The agreement provides for an exclusive arrangement for the first year with a view to forming JV’s to create BioCube biodiesel processing centres around VayuSap™ plantation clusters. VayuGrid will take the lead in providing feedstock supplies and BioCube Corporation will be responsible for processing it into biodiesel. The companies aim to complete a Definitive Agreement within 12 months.
BioCube Corporation CEO, David Tait said: “India has been a priority target market for us and we’re delighted to find a vibrant company like VayuGrid that is making inroads into the rural sustainable energy models we are proponents of. The potential for both companies to benefit from this partnership is significant.”
Doug Petersen, CEO of VayuGrid, commented: “ The BioCube adds another dimension to our VayuGrid model, providing a mobile, stand-alone biodiesel processing capability that is ideal for the plantation communities we work with.”
About The BioCube Corporation
The BioCube Corporation Ltd is an unlisted public company. The company designed, developed and manufactures the BioCube™; a compact, transportable and affordable community-sized biodiesel processor. The BioCube™ can process high quality biodiesel from a wide variety of feedstock that can be used directly in any modern diesel engines without modification. The BioCube fuels energy independence by making sustainable distributed biodiesel processing viable for commercial and community enterprises around the world. The company has operations in Queensland Australia, and Vancouver, BC Canada (for further information Contact Peter Wilken)
VayuGrid Marketplace Services Pvt. Ltd. is a Bangalore-based company focused on building biofuel supply chains around Elite Pongamia to address the challenge of Predictability in the renewable fuel supply chain, from upstream plantation to midstream processing to downstream markets. Its elite pongamia planting material branded VayuSap™ is more superior to “ordinary” Pongamia in precocity, yield, disease resistance and specific biochemical products of industrial value.