Mission NewEnergy sells jatropha oil to Europe

Australian-listed biodiesel producer Mission NewEnergy said it had sold its first shipment of 20 metric tons (MT) of crude jatropha oil to a power utility in Europe at US$130 per barrel CIF, representing a 60% premium to the prevailing crude oil price. The company described the sale as “one of the largest historic commercial deliveries” of crude jatropha oil and the unnamed buyer as “one of Europe’s largest power companies”. Mission said in a statement it had yielded its first harvest of jatropha seeds in 2010 and now has the capacity to supply more than 20 million barrels of jatropha oil over 30 years, based on a projected yield of 0.62 MT of oil per acre across its 179,000 acre holdings. (October 21, 2010)