Mission Increases Jatropha Oil Supply by 4.7 million Barrels Completing the 2011 Planting Season
31 Ottobre 2011 - 5:58PM
Business Wire
Mission NewEnergy Limited (NASDAQ:MNEL) (ASX:MBT), a
global provider of environmentally sustainable biofuels, is pleased
to announce that it has materially completed its 2011 Jatropha tree
planting season, adding 40,264 new acres and 14,331 new Jatropha
contract farmers. The Company has reported strong progress on the
expansion of its acreage profile and now has a total of 234,587
acres under contact representing a total of over 164 million
trees.
Over the lifespan of each acre, Mission anticipates receiving
115 barrels of Jatropha oil. By adding acreage, Mission increases
its crude Jatropha oil supply (a comparable concept to crude oil
well reserve). As our acreage matures, Mission’s harvest yields
expand (an comparable concept to crude oil well flow rate).
Increasing Jatropha oil supply is a key driver to Mission’s
future growth. Mission’s existing established acreage is expected
to provide supply of 26.9 barrels of oil with a market value today
of over US$3 billion.
Jatropha oil is a novel, high-quality non-food feedstock that
Mission can turn into biodiesel, which can compete with crude oil
above US$52 per barrel.
“We are delighted to be steadily growing our acreage and we see
no impediment to future expansion. Our contract farming business
model coupled with advanced management technology, allows us to
effectively plant on otherwise unusable land, giving Mission access
to land at no capital cost,” said Nathan Mahalingam, Group CEO of
Mission NewEnergy. “We expect significant year on year Jatropha oil
yield growth into the foreseeable future, from the combination of
continual acreage expansion and Mission’s already maturing acreage
profile. We look forward to reporting our 2011 harvest yields in
the coming months.”
Mission continues to deliver minor quantities of saplings to
contract farmers in areas experiencing sufficient rainfall, however
it is not anticipated that this will be a material number of new
acres.
This planting season Mission has, on a trial basis, planted high
yielding varieties from third parties including JOil and Quinvita.
It is expected that these higher yielding Jatropha varieties will
also significantly reduce the maturation cycle. Mission will
monitor the relative progress of all varieties planted and roll out
the best performing varieties in future planting seasons.
About Jatropha
Jatropha Curcas is a tree that grows on the most arid, marginal
lands, which produces an inedible seed containing oil. The Jatropha
oil is an ideal biofuels feedstock. The Jatropha tree begins to
yield seeds from the third year and provides an annual supply of
oil for thirty years. Each acre planted is expected to provide 115
barrels of Jatropha oil over its 30 year productive life.
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 a biodiesel producer and one of
the world’s largest Jatropha plantation companies. At full capacity
we can produce 105 million gallons of biodiesel and have over
234,587 acres of plantation representing a sustainable non-edible
oil supply of an estimated 27 million barrels. Jatropha Curcas, an
inedible biofuel 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.
For more information and a copy of this announcement, please
visit: www.missionnewenergy.com.
Grafico Azioni Mission Newenergy Limited - Ordinary Shares (MM) (NASDAQ:MNEL)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni Mission Newenergy Limited - Ordinary Shares (MM) (NASDAQ:MNEL)
Storico
Da Nov 2023 a Nov 2024
