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Amelot Holdings to buy up Barbados biodiesel company

2nd May, 2008

US-based renewable energy trading and manufacturing company Amelot Holdings is planning to purchase Native Sun NRG, the first company in Barbados to begin commercial production of biodiesel fuel.

Native Sun NRG has been producing biodiesel for the last two years from vegetable oil recycled from hotels and restaurants on the island.

Amelot's executives believe that a modest investment of equipment and training will increase Native Sun NRG's production more than five-fold within the next 12 months, and they project that initial acquisition costs, including capital investment, will be paid back within 18 months of operation.

Native Sun NRG produces about 100 gallons of biodiesel a week. The company's MD Handel Callendar says that an investment of at least $10,000 (€6,400) could boost production capacity to 300 gallons a week.

Amelot is a diversified holding company that has identified biodiesel as a $20 billion emerging market. The company plans to have a significant market share in growing low cost feedstocks to supply the growing demand for biodiesel, to reduce energy dependency of fossil fuels, to help reduce the US dependency on foreign oil supplies and reduce the impact of energy on the environment.