Jatenergy
Jatenergy (ASX: JAT) is of the view that renewable energy will become increasingly mainstream over the next decade, but that conventional energy sources will continue to play an important role. Jatenergy's mission is to be an important player in both coal and the production of renewable biofuels.
Jatenergy to provide crude jatropha oil to Lufthansa
Tuesday, September 13, 2011 by Oilprice.com
Jatenergy (ASX: JAT) is to provide crude jatropha oil to Lufthansa for flight trials.
The Lufthansa tests are the world’s first, long-term trial of renewable jet fuel and will be used on Lufthansa’s regularly scheduled flights between Hamburg and Frankfurt.
Jatenergy is providing Lufthansa with 200 tons of crude jatropha oil at $1,000 per ton from its joint venture with PT Waterland International, which was refined into civilian aviation Jet A-1 biojet fuel by Finnish firm Neste Oil, The International Business Times reported.
Jatenergy CEO Phil Hodgson said, “We can't produce enough jatropha oil at the moment to meet demand. Apart from sales to airlines such as Lufthansa, there is also interest from power generators and traditional biodiesel producers at prices linked to vegetable oils such as palm oil. Palm oil has priced between $1,000-1,250 per ton during 2011, which is around $140-180 per barrel. Our average ex-works production costs for the oil are around $460 per ton, or $65 per barrel.”
Interest in “drop in” biofuels has soared since the the standards group ASTM International recently approved the blending of up to 50 per cent of biofuel with conventional Jet A-1 fuel.
Source: Oilprice.com
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