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Abundant Biofuels Corporation Offers Low-Cost, Long-Term Contracts to Supply Jatropha Oil to U.S. Refiners With Under-Capacity Production Problems

Posted on: Wednesday, 24 June 2009, 14:05 CDT

MONTEREY, Calif., June 24 /PRNewswire/ -- Dr. Charles Fishel, Chairman of Abundant Biofuels Corporation, noted that "There are about 100 biodiesel refineries operating below capacity and another 47 idle refineries in the United States, alone." To help solve this problem, Abundant Biofuels provides standardized long-term contracts (5- or 10-years) in multiples of 50,000 barrels (2,100.000 gallons) of jatropha oil. Financing is available.

Several U.S. biodiesel refiners soon will be announcing that they have secured 10-year Jatropha oil contracts with Abundant Biofuels (www.abundantbiofuels.com). The terms of the contract assure continuing competitive viability of biodiesel refiners without resorting to refining of foodstuffs such as soy, and palm oil. Access to reliable quantities of Jatropha feedstock will ensure 100% pure, unblended biodiesel fuel made from certified sustainable resources.

In April, JatrophaBioJet Corporation agreed to purchase 5 million barrels per year for ten years. While outside the terms of standard contract above, of interest, this contract is believed to be the largest contract ever for non-food biodiesel feedstock.

James Love (Abundant's President) stated that "Abundant's goal is to provide America with the opportunity to reduce diesel pollution by using renewable and sustainable biodiesel that does not use food crops or require slashing and burning the rainforests."

In May, the EPA proposed: "Biodiesel made from virgin soybean oil wouldn't qualify toward reaching the 2012 renewable fuels standard of 1 billion gallons, according to a draft rule." This draft rule induced Abundant Biofuels Corporation to begin offering long-term contracts to supply jatropha oil.

Abundant Biofuels, an integrated global bioenergy company, grows jatropha in several countries including Philippines, Peru, Indonesia, and the Dominican Republic. With access to more than 3 million acres, Abundant is working with American biodiesel refiners to solve their long-term supply problems.

For further information: sales@abundantbiofuels.com.

*(LOGO 72dpi: Send2Press.com/mediaboom/09-0624-AbundantBio_72dpi.jpg)

This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com

SOURCE Abundant Biofuels Corporation

Source: PR Newswire

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