BY NEW BUSINESS ETHIOPIA REPORTER
Ardent Energy Group Inc, a Nevada Corporation with a branch in Ethiopia engaged in a biodiesel fuel development
announced that it is going to outsource its farming project in Ethiopia to farmers.
We decided to change our business model from owning and managing our own farm operation to working with multiple farmers in Ethiopia,” said Yemane Daniel Gezahegne, AEG’s chairman and Chief Executive Officer Speaking from the head office in Elk Grove, California.
He said that the current development in the biodiesel feedstock sector is rapidly changing with science and technology. This development has prompted the company to look at its business model and adapt to the change.
“Due to the revision of our business model that was approved by company executives, we have decided to voluntarily withdraw from the MOU we signed with the Ministry of Agriculture and Rural Development on 28 January 2009 requesting 15,000 hectares of rural land in the Benishangul Gumuz Regional State,” Mr. Yemane told newbusinessethiopia.com
The company has asked the ministry to allocate the reserved land to other investors at this time, according to the CEO.
“For now we have decided to implement the establishment of four nurseries of 50 hectares each in four different regions, to grow improved saplings for distribution to farmers that execute off-take agreements with us. Our plan will give opportunities to thousands of farmers who would be guaranteed purchase of their seeds by the company for a long period. We view this as a win-win proposition,” he said.
Ardent Energy Group, Inc. is a share company with its operations in Ethiopia engaged in supplying Alternative Energy solutions. AEG is a biodiesel company with a focus on the refining of high quality biodiesel from biological non-edible oil seeds, says the information obtained from the company's website.