Global production of biodiesel has reached 2.5 billion gallons with a monetary value of $35 billion. I estimate that the worldwide biodiesel market will have a value of $110 billion by 2016. Combined, the global renewable energy sector including biofuels, photovoltaic solar cells, and wind turbine revenues will triple, reaching $335 billion by 2018.

The world faces "Peak Oil” production and the global demand for renewable energy worldwide, including China, India, Brazil, and Europe, is accelerating.

Governments target to achieve 15% of all diesel fuel sold as biodiesel by 2020. However, the road for Jatropha and other feedstocks is not without stiff compe­tition: from new biofuel research and development advances in algae oil, cellulosic ethanol from switchgrass and sugar and palm oil sectors both have also seen significant growth. Larger and larger quantities of biodiesel and biokerosene made of algae are being delivered to the US Marine and US Airforce. In South America the sugar industry produces ethanol, biokerosene and biodiesel as well. Cellulosic ethanol plants are opened in 2012, which make ethanol out of switchgrass, mis — canthus and napier grass. In 2013 several new biorefineries will be opened in Brazil and China as well.

One of the primary attractions of the non-edible Jatropha plant is that it does not need to grow on agricultural land and does not compete with the food supply, as the world population increases by another 1.4 billion people by 2025.

Additionally, the quality of the biodieselfrom Jatropha is superior to corn or soybean oil at much lower costs. Its quality is also better because it does not require extensive refining for use in cooking stoves, fuel vehicles, and diesel engines, among other applications.

The immediate focus of research is on determining the best agronomic methods of sustaining high yields both for the oilseeds and the oil content over the expected lifespan of a Jatropha plantation. This may appear basic, but it is a fundamental step to take before Jatropha can be developed on a full commercial basis. Laboratories are evaluating cultivars and improving the genetic material, and generally advancing our understanding the plant and its performance in various agro-ecological environ­ments. Other areas include mechanized harvesting, oil expelling, development of byproducts, and end-product utilization both for fuel and medicinal applications.

Testing bio jet fuels is at very preliminary stage. As we have seen, it has to be blended and properly treated to withstand the cold temperatures at high altitudes. Considerable interest has been focused in this direction, but the main issue will be that of sufficient feedstock. Presently, there is simply just not enough production of Jatropha oil projected in the next few years to see Jatropha oil used in aviation biofuels on a large commercial scale.

In the longer term, the biofuels industry has to move toward using more second — generation feedstock that is not food and does not compete with food crops, uti­lizing more of the agricultural biomass and wastes. Such feedstocks include algae and Jatropha curcas. While J. curcas is to be promoted as the most commercially promising potential biofuel feedstock at the moment, investors will have to find

the best available technology, expertise, and management approaches to ensure that risk is minimized, and to maximize productivity and revenues.

We cannot deny the fact that the economic crisis has affected our planet. However, climate change remains as one of the main challenges for humanity. The latest news from the biofuels industry seems to put biofuels as one of the most important alternatives in the fight against global warming. How do you identify the main trends for the market for the next 12 months?

The green benefits ofalternative fuels continues to help drive the industry forward because it appeals to the social agenda of most countries, especially as non-food-based feedstocks like energy crops, waste biomass, and cellulosic and woody biomasses become more prevalent. Going forward, the economics of alternative fuels will be a main driving factor to continued project development in industry. Currently, most developed economies import a significant quantity of their energy from other coun­tries and, with that, a vast amount of wealth is transferred out of that local economy. An alternative fuel or energy source that is produced locally from locally grown and harvested feedstocks helps retain that wealth within the economy. For newly devel­oping economies this may give them an opportunity to literally grow their own energy.

The Jatropha industry is still at a very early stage. Although approximately 900 000 hectares of Jatropha have already been planted, mainly in Asia, but increasingly in Africa and Latin America, very few projects survive the first three years and hardly any project can demonstrate significant production of Jatropha oil.

Jatropha is not a "wonder crop,” but it does have wonderful potential. The Jatropha industry is rapidly developing through seed science and improved agr­onomy. The global potential is substantial: I expect a harvest of 20 million tonnes of biofuels by 2020. Jatropha could therefore become as widely traded as sunflower oil with a liquid futures market in Singapore and China. This demand means Jatropha not only has a "wonderful potential,” but a real future!

Driven by climbing crude oil prices and energy costs, the Jatropha industry structure is expected to change dramatically to meet accelerating government and consumer demand for biofuels. On a global scale, political support for Jatropha cultivation is growing as approximately 50 governments worldwide have announced national biofuel targets. In many countries, specific policies have also served a strategic role to promote Jatropha as a means to secure energy supply, to improve the livelihoods of the rural poor, or to protect the environment. Jatropha will see enormous growth as 13 million hectares are expected to be planted by 2015. Production is typically focused on domestic markets rather than for export, especially in Asia. For many domestic markets, the use of unrefined Jatropha oil is seen equally important as the transesterification into biodiesel.

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