MOSMART
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20.0%
Mosmart Investments (Proprietary) Limited (Mosmart) has two main activities:
the cultivation of feedstock and the associated biodiesel production across
Africa; as well as the development and exploitation of selected products and
intellectual properties. To date VenFin, who is in the process of acquiring
20% of the company, has been assisting Mosmart financially with loans. |
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Overview of the year to 30 June 2007
Mosmart commenced the management of a palm oil plantation in Guinea during
the last year and upgraded and expanded the production facilities. A biodiesel
production facility will be commissioned during the third quarter of 2007.
The preceding twelve months saw significant progress in the development of
an organic medium for the absorption of pollutants, concurrent with discussions
with a multinational enterprise for utilisation in a specific application.
Mosmart’s current focus is on the protection of the intellectual property.
The future
Mosmart will be split into two independent entities, with biodiesel activities
moving offshore and products relating to intellectual property remaining in
a South African vehicle. Business plans to expand the biodiesel activities
to two other African countries within the next year are already being developed.
Significant off-take agreements regarding proprietary products are anticipated
to be concluded within the next 12 months.
