BRIDGETOWN, Barbados, Feb. 7 (SEND2PRESS NEWSWIRE) — BioJet International Ltd. (www.biojetcorp.com) announced today that it has received a US $1.2 Billion funding facility from Cayman based Equity Partners Fund SPC. The funding structure is a 3 year facility; further terms of the funding were not disclosed.
BioJet is a leading international supply chain integrator in renewable (bio) jet fuel and related co-products which include green diesel, etc. for the aviation and transportation sectors.
The funding agreement is designed to allow BioJet a significant source of capital for its supply chain capital projects program including feedstock and refining projects, as well as investment and strategic acquisitions.
Chairman Mitch Hawkins said “This funding agreement with Equity Partners will form the cornerstone of BioJet capital projects and accretive EBIDTA positive acquisitions over the next five years. It enables a clear path to the expansion of our Camelina, Jatropha, and Algae feedstock projects as well as our Avia renewable jet refining projects in Latin America, Asia, and Europe. We will also be seeking acquisitions of listed companies which can add value geographically and strategically.”
BioJet operations throughout the entire biofuel value chain engage feedstock generation, technology, refining, logistics, sustainability certification, distribution, and eventual end use by the aviation sector user. BioJet is also the first Alternative Fuels Strategic Partner of the International Air Transport Association.
About Equity Partners Fund SPC:
Equity Partners Fund focuses on equity investments in public companies with market capitalizations under $1 billion, as well as private companies that will be listed on a securities exchange within six months of a funding commitment. The fund will invest in all sectors including infrastructure, manufacturing, construction, mining, communications, healthcare and finance.
Fund spokesperson Bruce Nelson says, “The fund is considered a private fund run by its principals, similar to a merchant bank that invests its own capital. Unlike hedge funds which have significant regulatory burdens exposing their investors to higher risks, Equity Partners Fund is able to act quickly, is more flexible when it comes to structuring an investment and has less regulatory burdens.”
For information on Equity Partners Fund SPC go to www.equitypartnersfund.com .
Contact: Mitch Hawkins at mitch.hawkins@biojetcorp.com or 1.805.350.1300.
News Source: BioJet International Ltd. :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .
Plain text copy of press release: send2pressnewswire.com/mediadrome/2011-02-0207-002.txt .
PDF copy of release: send2pressnewswire.com/mediadrome/news_2011-02-0207-002.pdf .
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BioJet is a leading international supply chain integrator for renewable (bio) jet fuel and related co-products. The Company operates across the supply chain by owning or controlling large quantities of bio-feedstock, developing refining capacity, solving aviation fuel supply logistics, and handling sales to end users. While this is a common business model in the oil industry or other industries, within the worldwide development initiative for renewable jet fuel, BioJet was the first to employ the model and remains a first mover. The world’s annual consumption of jet fuel (excluding military) is about 2 billion barrels and the International Air Transport Association (IATA) has stated it wants 10% of jet fuel to come from biofuels by 2017. In a move that leads the world, beginning January 1, 2012, 4,000 jet aircraft operators including all airlines must reduce their emissions or face a European Union airport ban. BioJet’s Mission is to: - To enable the interface of Bio-SPK, aerospace, and carbon markets. - To develop the Bio-SPK-to-jet market and markets for related turbine and aerospace applications. - To provide a cooperative single-point exchange for the worldwide supply and forward purchase of bio jet fuel. - To develop and implement quality standards and certification. - To develop the carbon market and become the world leader in carbon credit development of the bio jet fuel application. - To assist feedstock developers in project financing where production is targeted for jet consumption. The Company has a strong, experienced management team with a clear strategic vision, and has put in place the management, sales, and logistics infrastructure to achieve effective, rapid growth and increasing profitability. The team markets bio-jet fuel to distributors and end-users for use as aviation fuel, and monetizes co-products it accrues from these sales. MEDIA ONLY CONTACT: Jim Pfeil Sr. V.P. Sales & Distribution BioJet jim.pfeil @ biojetcorp.com +1.805.207.8164
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