Mission New Energy now selling biodiesel to oil majors

Mission New Energy Limited of Malaysia has begun selling biodiesel to oil majors in the country. This represents a major step towards the full implementation of the Malaysian mandate. The new mandate specifies that all oil majors in Malaysia namely Petronas, Shell, Esso, Chevron and Boustead Petroleum Marketing must reach a 5% biodiesel blend for the country’s central region by November 2011. Mission New Energy began selling its Malaysian B5 palm oil biodiesel in July 2011. In the ramp up period, Mission expects to supply 2,400 tons of biodiesel to Malaysia. “As a biodiesel industry leader in Malaysia, we are delighted to participate in the implementation of the mandate and look forward to the expected sales volume increase over time, which in turn will improve our capacity utilization, increase our revenue and provide a positive impact to our bottom line,” said Nathan Mahalingam, Group CEO of Mission New Energy Limited. (August 3, 2011)