BARBADOS and SANTA BARBARA, Calif., July 6, 2011 (SEND2PRESS NEWSWIRE) — BioJet International Ltd. (www.biojetcorp.com) announced that it joins the worldwide Aviation Industry celebrating approval of bio-derived jet fuel for commercial use (ASTM International revised D7566). Concurrent with this approval, and to aid in development of the bio-aviation market, BioJet is releasing One Billion Gallons of Renewable Jet Fuel to long-term contracts.
This is a one time introductory offer made to the Commercial Aviation Industry on special pricing and terms. No deposit, take or pay contracts will be freely transferable and may be assigned or traded over the life of the contract provided that the financial capacity of the assignee is at least equal to that of the original Purchaser.
Pricing will be fixed at US$2.97 per gallon. Alternatively, the buyer may elect to index at par with petroleum jet fuel with a US$3.50 cap and US$2.50 floor.
BioJet International, Ltd. is a leading international supply chain integrator for renewable (bio) jet fuel and related products for the aviation and transportation industries that include renewable (“green”) diesel, feedstock oil, and feedstock co-products.
BioJet operates throughout the entire biofuel value chain and engages feedstock generation, technology, refining, logistics, sustainability certification, distribution, and eventual end use by the aviation and transportation sector user.
In February 2011 BioJet received a US$1.2 Billion funding facility from Equity Partners Fund. The facility is the cornerstone of BioJet’s US$6+ Billion supply chain capital projects program over the next 10 years which includes feedstock and refining projects, as well as investment and strategic acquisitions.
This offer is made possible because BioJet, through its subsidiaries, owns and controls multiple, very large biofuels feedstock projects around the world. This unique position provides BioJet with the ability to control its internal allocation of resources for a significant cost control advantage while other companies are subject to severe fluctuations in cost and availability of feedstock.
For more information, visit: http://www.biojetcorp.com .
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 .
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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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