Global Energy Completes First Stage of Castor Oil Project in Ethiopia

Global Energy announced that its subsidiary, Global Energy Ethiopia (GEE), has successfully completed sowing 5,000 hectares of Chinese hybrid castor seeds for a renewable energy project in Ethiopia. The project entails planting and harvesting castor for the production of non-edible oil for the bio-diesel industry and for other uses. Castor is a plant with an oil content ranging from 46-53%.

Six months after launching the project in southern Ethiopia, some 90% of the land has reached a germination stage of over 96 percent, the company said. GEE expects to start harvesting in approximately three weeks and for the harvesting to continue for a period of five months. GEE will also open a peeling center in the town of Sodo, the capital of the country’s northern zone.

Recently, GEE signed a US $250,000 rental agreement for a 10,000 square meter facility in Sodo to house the peeling center. The agreement is set for 15 years, with an option of extending to 35. This center will have the capacity to process over 25,000 tons of castor plant fruit and it will have the storage capacity to hold 3,000 tons of seed and 450 tons of castor plant fruit per day.

“Global Energy continues to explore new methods to produce environmentally friendly, efficient and cost-effective energy solutions,” said Asi Shalgi, CEO of Global Energy. “The Ethiopian project not only represents a new and important piece of our puzzle, but it also allows us to significantly boost the local economy of an area in desperate need of help.”

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