Fri, Jul 08, 2011
BioJet Releasing One Billion Gallons For Early Adopters
Concurrent with the approval of biofuel standards for jet
engines by ASTM, and to aid in development of the bio-aviation
market, BioJet says it is releasing one billion gallons of
renewable jet fuel for long-term contracts.
The company says 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 $2.97 per gallon. Alternatively, the
buyer may elect to index at par with petroleum jet fuel with a
$3.50 cap and $2.50 floor.
BioJet says it 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.
The company says it can make the offer because, through its
subsidiaries, it 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.
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