In Canada, Purthanol Resources announced that it has identified an operator for the Luxembourg facility that will invest and operate the facility once the due diligence period is complete. Purthanol is pleased to announce that the operator/investor is investing personal funds and is awaiting financing for the proper functioning of the 20 million liter facility of biodiesel. Rene Delarue is quite excited about the project in Luxembourg as it will allow the company to export theits know-how and technology to produce its own oils (feed stock) and depend less on agricultural crops.
In this venture Purthanol will retain 50% ownership of the joint venture. This project was realized with the help of Artour Babaiants Vice President International Affairs/Finance.