TULSA, Okla., Aug. 17, 2012 (GLOBE NEWSWIRE) -- Syntroleum Corporation (Nasdaq:SYNM) a renewable and synthetic fuels technology company, today announced that Dynamic Fuels, LLC has been granted Part 79 registration for its Renewable Gasoline Blendstock 10 by the U.S. Environmental Protection Agency (EPA). This designation enables Dynamic Fuels to generate 1.5 Advanced Biofuel, or D5, RINS for each gallon of its renewable gasoline blendstock when blended into petroleum gasoline at up to a 10% concentration. Dynamic Fuels' Renewable Gasoline Blendstock is a "drop-in" fuel that can be blended directly into gasoline.
At its design basis production rate of 75 million gallons per year, Dynamic Fuels' Geismar Plant should produce approximately 7.5 million gallons of renewable gasoline blendstock, or 11.25 million Advanced Biofuel RINS, per year. Advanced Biofuel RINS have traded for as much as $0.83 per RIN during 2012 and are currently approximately $0.46.
This is the third time Dynamic Fuels has successfully applied for and received EPA Part 79 Registration for drop-in renewable fuels. Dynamic Fuels received Part 79 registration for Renewable Diesel Blendstock for up to a 20% blend with petroleum diesel in 2009 and Part 79 registration for Renewable Diesel for use at up to 100% concentration in 2011.
About Syntroleum
Syntroleum Corporation owns the Syntroleum® Process for Fischer-Tropsch (FT) conversion of synthesis gas derived from biomass, coal, natural gas and other carbon-based feedstocks into liquid hydrocarbons, the Synfining® Process for upgrading FT liquid hydrocarbons into middle distillate products such as synthetic diesel and jet fuels, and the Bio-Synfining® technology for converting animal fat and vegetable oil feedstocks into middle distillate products such as renewable diesel and jet fuel using inedible fats and greases as feedstock. The 50/50 venture – known as Dynamic Fuels – was formed to construct and operate multiple renewable synthetic fuels facilities, with production on the first site beginning in 2010. The Company plans to use its portfolio of technologies to develop and participate in synthetic and renewable fuel projects. For additional information, visit the Company's web site at www.syntroleum.com
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Forward Looking Statements
This document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as well as historical facts. These forward‑looking statements may include statements relating to the Company's technologies and use thereof, operational activities of the Company, and technology test 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 forward‑looking statements. Although we believe that the expectations reflected in these forward‑looking statements are reasonable, these kinds of statements involve risks and uncertainties. Actual results may not be consistent with these forward‑looking 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 include the potential that debt or equity financing for anticipated plants may not be available, the schedule for development, construction and operation of proposed plants may not be met, commercial-scale plants do not achieve the same results as those demonstrated on a laboratory or pilot basis or that such plants experience technological and mechanical problems, the potential that improvements to Syntroleum's various technologies currently under development may not be successful, the impact on plant economics of operating conditions (including commodity prices), construction risks, risks associated with investments and operations in foreign countries, our dependence on strategic relationships with manufacturing and engineering companies, volatility of energy prices, the ability to implement corporate strategies, including the continued availability of adequate working capital, competition, intellectual property risks, our ability to obtain financing and other risks described in the Company's filings with the Securities and Exchange Commission.
® "Syntroleum", "Synfining", and "Bio-Synfining" are registered as trademarks and service marks in the U.S. Patent and Trademark Office.