SANTA BARBARA, Calif. /California Newswire/ — JatrophaBioJet Corporation (jatrophabiojet.com) will develop the Jatropha/advanced biofuels market for jet, turbine and aerospace applications. JatrophaBioJet provides a cooperative single point exchange for the worldwide supply and purchase of Jatropha jet fuel and a carbon offset opportunity. The world’s first commercial aviation test flight powered by a sustainable second-generation biofuel successfully took place on Tuesday 30 December 2008 when an Air New Zealand Boeing 747 test reportedly employed a 50-50 mix of Jatropha and traditional jet fuel. Air New Zealand, Virgin Atlantic, Continental, and Japan Air Lines have all conducted successful test flights in 2008 and early 2009 with biofuel partial replacements.
In the announcement, JBJ Chairman Charles V. Fishel, said “JatrophaBioJet is being formed with the objective of being a major international player in the use of Jatropha Oil as a replacement for aviation jet fuel. The world’s annual consumption of jet fuel (excluding military) is about 2 Billion Barrels. The International Air Transport Association has stated it wants 10-percent of jet fuel to come from biofuels by 2017. Today Jatropha Oil is the most desirable biofuel additive to jet fuel — a potential market of at least 200 million barrels of JatrophaBioJet fuel per year.”
JatrophaBioJet is a collaboration between Abundant Biofuels Corporation (www.abundantbiofuels.com), South Pole Carbon Asset Management, a world leader in the development of Carbon Credit Projects (www.southpolecarbon.com), and well-known environmental and technology developer, Mitch Hawkins & Co., Inc. (www.mitchhawkins.com).
Mr. Hawkins, CEO of JatrophaBioJet, stated “JatrophaBioJet will operate at the intersection of Jatropha biofuels, aerospace, and carbon offsets. Renewable sourcing combined with reduction in carbon emissions is the primary object in aircraft burning a petroleum replacement. Oil costs fluctuate and when they are high, this alternative is disruptively cheaper. Today, with very low oil prices, they are probably equivalent. However, pricewise, if you think oil will be higher in the future, you need to get ready to fly Jatropha.”
In addition to Mr. Hawkins, JatrophaBioJet’s team includes Dr. Daniel T. Colbert, President and Chief Operating Officer. Dr. Colbert is Executive Director of the Institute for Energy Efficiency at the University of California Santa Barbara and serial entrepreneur having achieved world class status in the field of carbon nanotubes and as a founder of world leader Carbon Nanotechnologies Inc. Paul T. Robinson is Chief Financial Officer, formerly CFO and Vice-President of Finance at several public and private companies, including Global Business Services, Inc., Energetics Holdings, Inc. and Pavilion Energy Resources (oil & gas companies) and Managing Partner of WestOaks Capital Group.
Abundant Biofuels is currently the world’s largest Jatropha developer with several million hectares (1 hectare=2.5 acres) under development or predevelopment in 5 different countries (Dr. Fishel is also Chairman of Abundant Biofuels).
South Pole Carbon, based in Zurich, is a worldwide carbon credit developer with offices on every continent and approximately 150 projects currently underway.
Mitch Hawkins & Co. is a leader in environmental commodity development with current involvement in approximately $1.5 Billion of projects.
[tags]Jatropha Oil, renewable biofuels, alternative energy development[/tags]