Mission sees increasing capacity utilization  

Mission NewEnergy Ltd.s biodiesel facility in Kuantan Port, Malaysia, has started production of crude palm oil-based biodiesel for a new European Union-based costumer. In May, the company commissioned its second 250,000 ton per annum facility. Total production capacity of its facilities is 350,000 tons per annum. “In addition to the current Valero U.S. offtake agreement previously announced, we are continuing to work towards additional end-user and offtake agreements into the EU ahead of the new Renewable Energy Directive (RED) which will require that all biodiesel used in the EU from 1st January 2011 has to be compliant with new sustainability laws. We therefore look forward to increase our capacity utilization through 2010 and 2011,” said CEO Nathan Mahalingam. (August 13, 2010)