Leading Bio Jet Fuel Players Team Up

SANTA BARBARA, Calif. and CINCINNATI, Ohio, Jan. 6, 2010 (SEND2PRESS NEWSWIRE) -- BioJet Corporation (www.biojetcorp.com) and Great Plains Oil & Exploration (www.camelinacompany.com) announced today that they have executed a Teaming Agreement for the purpose of producing renewable jet fuels. The companies plan to jointly develop integrated Camelina cultivation and associated refinery projects in the U.S., Europe, South America, and Asia.

BioJet will bring its international network and management experience in developing renewable jet fuel projects. Great Plains will provide its extensive experience in Camelina growth and processing. It is estimated that within 5 years, Camelina production from currently planned team projects will yield approximately 200 million gallons per year of renewable jet fuel, 65 million gallons per year of co-products, and 2.3 million tons per year of Camelina meal, for use as a high-quality animal feed.

Great Plains is the largest Camelina producer in the world and has extensive agronomic and genomic intellectual property with exclusive access to the majority of the world's Camelina germplasm. These strengths will allow Great Plains to identify the best proprietary varieties of Camelina for each teamed project location, thereby optimizing production yield. Great Plains has contracted approximately 85 percent of the Camelina acreage currently planted in North America and plans to rapidly expand its acreage in 2010 and beyond.

Sam Huttenbauer, CEO of Great Plains, said: "Affordable feedstock is the key to all biofuels, and due to Camelina's low inputs and high-quality meal by-product, it has tremendous potential to be competitive with petroleum jet fuel. The scale of these projects will allow this to happen quickly." It's expected that the majority of production from the teamed projects will be international. "This relationship greatly expands our bandwidth for international crop production, refining, sales and distribution, corporate finance, and carbon trading. We expect these capabilities to allow our company to rapidly produce Camelina-derived renewable jet fuel at competitive pricing."