Syntroleum Reports EPA Announcement of 2013 1.28 Billion Gallon Biomass Based Diesel Mandate
TULSA, Okla., Sept. 17, 2012 (GLOBE NEWSWIRE) -- Syntroleum Corporation (SYNM) reports that the EPA has announced an increase to the renewable volume obligation (RVO) for biomass based diesel under RFS2 to 1.28 billion gallons in 2013 from 1.0 billion gallons in 2012.
The renewable diesel produced by Syntroleum's affiliate Dynamic Fuels qualifies as biomass based diesel under the RVO. Renewable diesel is a direct drop-in replacement for petroleum diesel and meets the same ASTM D975 standards. The increased RVO provides the regulatory certainty needed to enable manufacturers of renewable fuels to continue to grow production.
Syntroleum Corporation owns the Syntroleum® Process for Fischer-Tropsch (FT) conversion of synthesis gas into liquid hydrocarbons, the Synfining® Process for upgrading FT liquid hydrocarbons into refined petroleum products, and the Bio-Synfining® technology for converting renewable feedstocks into drop-in fuels. Syntroleum has a 50% interest in Dynamic Fuels, LLC, which operates a 75 million gallon per year renewable fuels facility located in Geismar, Louisiana utilizing its Bio-Synfining® technology. For additional information, visit the Company's web site at www.syntroleum.com
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This document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as well as historical facts. These forwardlooking statements may include statements relating to the Fischer-Tropsch ("FT") Process, Syntroleum® Process, the Synfining® Process, and related technologies including, gas-to-liquids ("GTL"), coal-to-liquids ("CTL"), and biomass-to-liquids ("BTL"), our renewable fuels Bio-Synfining® Technology, plants based on the Syntroleum® Process and/or Bio-Synfining®, anticipated costs to design, construct and operate these plants, the time of commencement and completion of the design and construction of these plants, expected production of fuel, obtaining required financing for these plants and our other activities, the economic construction and operations of Fischer-Tropsch ("FT") and/or Bio-Synfining® plants, the value and markets for products, testing, certification, characteristics and use of Plant products, the continued development of the Syntroleum® Process and Bio-Synfining® Technology and the anticipated capital expenditures, expense reductions, cash outflows, expenses, use of proceeds from out equity offerings, anticipated revenues, availability of catalyst, our support of and relationship with our licensees, and any other forward-looking statements including future growth, cash needs, capital availability, operations, business plans and financial results. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "should" and similar expressions are intended to be among the statements that identify forwardlooking statements. Although we believe that the expectations reflected in these forwardlooking statements are reasonable, these kinds of statements involve risks and uncertainties. Actual results may not be consistent with these forwardlooking statements. Syntroleum undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. Important factors that could cause actual results to differ from these forward-looking statements are described under "Item 1A. Risk Factors" and elsewhere in our 2011 Annual Report on Form 10K.
® "Syntroleum", "Synfining", and "Bio-Synfining" are registered as trademarks and service marks in the U.S. Patent and Trademark Office.
CONTACT: Ron Stinebaugh Syntroleum Corporation (281)224-9862 www.syntroleum.com
Source: Syntroleum Corporation 2012 GlobeNewswire, Inc.