Castor Oil Plant (wiki commons)
Casterra Ag, an Israeli startup that develops castor cultivation solutions for the development of biofuels, concluded a deal to sell seeds of its proprietary castor varieties to what the firm described as one of the “world’s leading” oil and gas companies for cultivation in specific African territories. Initial purchase orders, valued at an aggregate of $9.1 million, were received and the seeds are expected to be delivered during 2023.
Casterra, a subsidiary of Evogene Ltd., boasts that it offers high-yield, high-oil castor seed varieties that are optimized for biofuel production to support the growing market of sustainable energy. In this way, Casterra is one of many Israel Startup Nation firms working on alternative green sources of energy to help fight climate change. Casterra employs advanced breeding technologies using unparalleled genetics knowledge to breed stable castor varieties that can be cultivated using mechanized agro-technical practices.
The biodiesel market is growing rapidly, and is expected to reach $190 billion by 2030. This growth is being driven by a number of factors, including increasing demand for renewable fuels, the environmental benefits of biodiesel, and the availability of new feedstocks such as castor oil.
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Castor oil is a particularly promising feedstock for biodiesel production, as it is a carbon-neutral fuel with low environmental impact. Castor plants can be cultivated on marginal lands, in semi-arid to arid conditions, and they do not compete with edible crops.
The purchase orders reported in the article could support the production of approximately 1.5% of the current world demand for non-fossil oil for biodiesel. This is a significant amount of production, and it suggests that the demand for biodiesel from castor oil is likely to continue to grow in the future.
Biodiesel offers many benefits. For example, it is a renewable fuel, meaning that it can be produced from plant-based sources. It is biodegradable, meaning that it breaks down in the environment without harming it. It has lower emissions than traditional fossil fuels, making it a more environmentally friendly option. And it can be used in existing diesel engines without any modifications.
Overall, biodiesel is a promising alternative fuel that has the potential to reduce our reliance on fossil fuels and improve air quality. The growth of the biodiesel market is good news for the environment, and it is likely to continue in the years to come.
“We are thrilled with this business opportunity, which signifies a transformative step forward in the biofuel industry,” said Eyal Ronen, CEO of Casterra. “By harnessing Evogene’s cutting-edge computational biology technologies, Casterra is at the forefront of developing and supplying high-performance seeds for biofuel production that address the growing demand for cleaner and more sustainable energy. We believe that this achievement is just the beginning of a long-term relationship with our existing partner; together we are driving the future of sustainable energy solutions for the benefit of our planet.”
