BioJet Corp. to sell 4 million barrels of aviation biofuel
Santa Barbara-based BioJet Corp. agreed this week 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 over two years beginning in 2011, said BioJet Chief Executive Mitch Hawkins, 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 Corp., formerly known as JatrophaBioJet, did not disclose other details of the contract. But the company is aiming to provide 30 million barrels of biofuel annually by 2017, when the International Air Transport Assn. hopes to reach its goal of 10% biofuel use.
By then, Hawkins said, he 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, Hawkins said, though BioJet is also exploring camelina, algae and “designer,” or chemically engineered, sources as potential feedstocks.
Though BioJet is capable of growing its own jatropha, it also contracts with suppliers including Abundant Biofuels Corp., which operates in the Philippines, Peru, the Dominican Republic and other countries.
-- Tiffany Hsu