Portfolio Update (2874F)

TIDMPSD

RNS Number : 2874F

PSource Structured Debt Limited

13 June 2012

13 June 2012

PSource Structured Debt Limited ("the Company")

Parabel signs agreement in Malaysia

PSource Structured Debt Limited (LSE: PSD), the London listed fund (in managed wind down) confirms that its largest holding, Parabel (formerly PetroAlgae) has signed a license agreement in Malaysia.

The text of Parabel's announcement is set out below:

Parabel, Inc. and Lemna Asia SDN BHD Sign License Agreement

Confirms pathway for commercial-scale production in Malaysia

MELBOURNE, Fla. -- June 13, 2012

Parabel Inc. (OTCQB: PABL) and its operating company PA LLC, a global provider of micro-crop technology and solutions for the renewable production of feed, food and fuel, today announced that it has finalized a Master License Agreement with Lemna Asia SDN BHD for the implementation of a commercial-scale license unit in Malaysia.

The agreement provides a framework for the construction and operation of a commercial-scale license unit of approximately 5,000 hectares, which may consist of modules in different locations in Malaysia.

"Lemna Asia, in collaboration with government agencies such as the Perak State Development Corporation, is committed to developing a long-term partnership with Parabel to promote food and energy security, both in Malaysia and wider Asian markets," said Halim Aziz, Director of Lemna Asia. "Together, we hope to deliver substantial job creation and economic growth, helping to advance the Malaysian government's Economic Transformation Program (ETP) initiative, which aims to transform Malaysia into a high-income economy by the year 2020."

To date, Parabel has entered into contracts with customer licensees in Malaysia, China and Chile. In total, the agreements contemplate the construction of twelve full-scale license units, representing an order book value of approximately $4 billion.

"In 2012, Parabel has accelerated its commercialization and is now working with customers worldwide to deliver a substantial order book," said Anthony Tiarks, CEO of Parabel. "Following the announcement of our CECEP agreement last month, this contract with Lemna Asia demonstrates the increasing demand for our technology in Asia, as well as our commitment to serve critical food and energy needs in large, emerging economies."

Parabel's commercial-scale solution is designed to promote economic, social and environmental development, through local, reliable, year-round production that absorbs atmospheric carbon dioxide and does not compete with the existing food supply, require arable land, or pollute soil or water.

Parabel's protein product could qualify as the first major new plant protein source for humans since soy entered the human diet in the 1950s, while third-party tests have confirmed the value of Parabel's animal feed applications in aquaculture, poultry, and dairy cattle diets.

In addition, the company's technology enables the production of a renewable fuel feedstock that, with third-party conversion systems, can provide the basis for cellulosic gasoline, diesel, and jet hydrocarbon fuels that are virtually indistinguishable from petroleum-based fuels.

About Parabel, Inc.

Parabel Inc. (OTCQB:PABL), based in Melbourne, Florida, provides renewable technology and solutions to meet the significant and growing demand for feed, food, and fuel in global markets. The company's solution is designed to deliver strong economic returns to customer licensees as a consequence of continuous, year-round production operations. Parabel also intends to provide social and environmental benefits, through job creation, community investment, food security promotion, and sustainable production. For more information about Parabel, please visit our website at http://www.parabel.com.

About Lemna Asia SDN BHD

Lemna Asia SDN BHD is a privately-owned company, partnered with Malaysian government agencies to deliver significant value in renewable energy and related technology solutions. Lemna Asia's state agency links and alignment with the Malaysian government's ETP initiative provide a strong basis for long-term success in the renewable feed, food and fuel sectors.

 
 
  For further information, please 
  contact: 
 
 PSource Capital Limited             [phone] 
 Soondra Appavoo 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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