IBI reinvents itself as a moringa supplier for biostimulant products
In Brazil, Integrated Biodiesel Industries has revived itself with a recovery plan to use moringa leaves as raw material for the production of plant biostimulants. The company has gotten new investments from private equity investment fund CapitalCorp Finance, Ltd and Brazil’s Development Bank under an innovation incentive program. Production will be carried out by a contract manufacturer, and a corporate name change is expected before the new product release.
The company’s 400 hectare moringa plantation in the State of Piaui remains the world’s largest. “Moringa leaves are known for its high content of plant growth hormones such as auxins and cytokinins, which significantly increases yields of other commercial crops” says Marcelo Lopes, IBI’s CEO. “We will be tapping an existing supply source from our own plantation and use the investment funds to develop and distribute a formulated commercial product.”
Since the divestment of its main assets in Argentina in 2009, Integrated Biodiesel Industries has refocused its efforts towards biofuels feedstock origination and natural chemicals, with limited success. The severe drought that persisted in the Company’s main originating area in the Northeast of Brazil for two consecutive planting seasons in 2010 and 2011 has severely impacted its finances. For this reason, planned investments for 2012 and 2013 in glycerine refining and processing as starting materials for green chemicals were cancelled. IBI has been practically dormant since 2012.
Category: Fuels
