SOURCE: Mission NewEnergy

Mission NewEnergy

December 15, 2010 13:42 ET

Mission NewEnergy Completes Commercial Scale Jatropha Oil Shipment

SUBIACO, WESTERN AUSTRALIA--(Marketwire - December 15, 2010) - Mission NewEnergy Limited (ASX: MBT), a vertically integrated biodiesel producer and one of the world's largest Jatropha plantation companies, announced today that it completed its second commercial sale and shipment of Jatropha oil to a major European customer, for use as a sustainable fuel.

This shipment, comprising 444 barrels (60 tonnes) of unrefined Jatropha oil, was three times the size of our last Jatropha oil sale. At approximately US$119 per barrel CIF Europe, the sale price represented a 34% premium to prevailing crude oil prices.

"Over the next 30 years, the acreage cultivated by Mission's farmers is expected to produce an estimated 20 million barrels of sustainable non-food oil supply," said Nathan Mahalingam, CEO of Mission. "If sold at the same price, the market value of our Jatropha oil supply is over US$2.4 billion."

Mission expects to make further sales of CJO or Jatropha-based biodiesel after the 2010/2011 harvest season.

For more information and a copy of this announcement, please visit: www.missionnewenergy.com or contact:

Contact Information

  • Company:

    James Garton
    Head Corporate Finance, M&A
    Mission NewEnergy Limited
    + 61 8 9443 9512
    Email Contact