Agrenco, whose financial and treasury arm operates from Malta at The Park Lane Buildings in Guardamangia, is restructuring and is transferring its board of executives, located until now in parts of Europe and Brazil, to Switzerland. The idea is to unify the different operation areas in Geneva.

Agrenco’s executive board met earlier this month to discuss new strategies and challenges, foremost among them investments in biofuels and energy. Depending on environmental licensing, the group is also planning to start operating its first biodiesel plant in Brazil as from March this year. By end 2008, Agrenco should also start operating another two plants. The three complexes will have an estimated production capacity of 450 million litres of biodiesel per year, with an investment of $150 million.

Agrenco also expects to sell carbon credits in the international market, with the replacement of dirty energy for clean energy. If the entire production capacity is used, the plants will no longer emit one million tonnes of CO2 per year. Agrenco is currently awaiting the approval of the methodology for biodiesel projects.

The company’s revenue for last year has been estimated at US$1.5 billion.

Earlier this month, Dr Robert A. Swick was appointed Agrenco’s new protein consultant. Together with the team, he will help develop the market for the distribution of Agrenco products, especially soybean bran.