BioJet sells 4 million barrels of aviation fuel
In the US BioJet has agreed to sell 4 million barrels of aviation biojet fuel to Las Vegas oil and fuel broker E85.
The contract is likely to go into effect in 2011, once jet biofuel is projected to be approved for use by the end of 2010. The fuel standard is being developed by ASTM International, formerly known as the American Society for Testing and Materials.
BioJet is aiming to provide 30 million barrels of biofuel annually by 2017, when the International Air Transport Association hopes to reach its goal of 10% biofuel use.
By then the company expects demand for aviation biofuel to exceed 280 million barrels annually, with 42 gallons per barrel.
The bulk of the biofuel is likely to be produced using seeds from the jatropha plant, though BioJet is also exploring camelina, algae and chemically engineered sources as potential feedstocks.
Though BioJet is capable of growing its own jatropha, it also contracts with suppliers including Abundant Biofuels which operates in the Philippines, Peru, the Dominican Republic and other countries.
The contract is likely to go into effect in 2011, once jet biofuel is projected to be approved for use by the end of 2010. The fuel standard is being developed by ASTM International, formerly known as the American Society for Testing and Materials.
BioJet is aiming to provide 30 million barrels of biofuel annually by 2017, when the International Air Transport Association hopes to reach its goal of 10% biofuel use.
By then the company expects demand for aviation biofuel to exceed 280 million barrels annually, with 42 gallons per barrel.
The bulk of the biofuel is likely to be produced using seeds from the jatropha plant, though BioJet is also exploring camelina, algae and chemically engineered sources as potential feedstocks.
Though BioJet is capable of growing its own jatropha, it also contracts with suppliers including Abundant Biofuels which operates in the Philippines, Peru, the Dominican Republic and other countries.
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