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Branson looks towards Virgin territory: biofuel

Posted Jun 26th 2006 at 9:24AM by Joel Arellano

Filed under: Ethanol, Manufacturing/Plants

Virgin founder Sir Richard Branson looks to be eying the biofuel segment. He announced during an interview on Larry King Live, "We're in the airline business and we are in the train business and fuel prices have gone up dramatically...all our spare money is being put into building ethanol plants, wind farms, looking at solar heating and just trying to do everything we can to create an alternative energy source. And it's also good business sense."

While no specific details have been given, Branson is reported to be planning a "major investment" in bioethanol production later this summer. Well, when Branson's sale of thetrainline.com goes through, $140 million is going to be a part of that "investment".

[Source: Evening Standard via thisismoney]
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