Mission Signs Contract to Supply ISCC Sustainability Certified Product
29 Aprile 2011 - 7:53PM
Business Wire
Mission NewEnergy Limited (Nasdaq:MNEL) (ASX:MBT), a
global leader in providing energy from renewable sources, is
pleased to announce that it has signed a contract to supply
sustainability-certified product to a major international producer
and distributor of refined oil products. Contract revenue should
exceed $100 million. The contract will commence in May 2011 and
should continue through the second quarter of 2012 subject to an
initial three-month trial period.
“This is the culmination of two years of work by the Mission
team in collaboration with International Sustainability &
Carbon Certification System (ISCC) and FELDA. We are really proud
to become the only certified supplier of palm-based products into
the European market. It has opened a new market for us and we are
currently in negotiations with several other buyers for our
certified product,” said Nathan Mahalingam, Group CEO of Mission.
“We expect sales under this contract, and others under negotiation,
to absorb all of the ISCC-certified feedstock that FELDA can supply
to Mission over the next year,” Nathan added.
In early March, Mission announced that it had established Asia’s
first fully integrated ISCC certified palm biodiesel supply
and production chain, in collaboration with FELDA.
FELDA, a Malaysian government corporation and one of the world’s
largest palm oil producers, in collaboration with Mission,
Malaysia’s largest biodiesel refiner recently completed ISCC
certification of two of its mills and eight plantations in
Peninsular Malaysia. Mission, with a 350,000-ton biodiesel capacity
at its Port Kuantan facility, was the first biodiesel facility
outside Europe to gain full ISCC certification.
Under the arrangement, Mission and FELDA are aggressively
working together to extend the certification program to additional
FELDA mills and plantations, further expanding the available supply
of ISCC certified product through Mission’s refineries and creating
opportunities for further Mission revenue growth.
About Mission NewEnergy
Mission NewEnergy Limited is a global provider of sustainable,
renewable energy. Operating in Asia, India, Australia, Europe and
North America, Mission NewEnergy is an integrated biodiesel
producer and one of the world’s largest Jatropha plantation
companies producing 105 million gallons of biodiesel with over
194,000 acres of plantation representing a sustainable non-edible
oil supply of over 22 million barrels and growing. Jatropha Curcas,
an inedible biodiesel feedstock, is being cultivated by Mission’s
contract farmers on arid, marginal lands. Through the realization
of Jatropha by-product value Mission is working towards a zero cost
of sustainable non-edible fuel source. To learn more, visit
www.missionnewenergy.com.
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