Ohio biofuel closing on parity with petroleum fuel prices
Jan. 22, 2018 - Cincinnati-based plant sciences company Agragen, LLC, predicts that the recent surge in oil prices will soon permit biofuels derived camelina oil to be on parity with petroleum-derived fuels in costs.
January 22, 2018 By Agragen LLC
Sam Huttenbauer Jr., CEO of Agragen notes that “this recent development will mark the first time a renewable source of fuel will be competitive in the energy marketplace without subsidies.”
“What really pushes camelina-derived oil to be competitive is the combination of our transformation capabilities with additional technology we have licensed that in preliminary studies demonstrate an extensive increase in yield and seed size. The combination of these two changes in traits is expected to double the yield per acre,” said Eric J. Murphy, CSO.
Huttenbauer adds, “Camelina is attractive because it is a low-input crop that requires much less water than most crops. Because camelina oil has already been used to produce aviation fuel and biodiesel, we know it provides a very viable, sustainable alternative to traditional petroleum-derived fuels. This combined with our efforts to enhance the off-field yield of camelina means a significant reduction in agricultural costs, ultimately driving the competitive position of camelina.”
Murphy notes that “we have already worked to increase the amount of short chain fatty acids in camelina, which will only further enhance its use as a feedstock for biofuels as well as providing a healthy oil for human use that is an alternative to coconut oil. Our science team is using our technology platform to enhance camelina in a number of ways to make a wide range of products in a sustainable manner for a variety of uses across multiple sectors.”
Agragen, LLC is a Cincinnati, Ohio-based plant science company focused on using Camelina sativa as a platform to produce biopharmaceuticals and bioactive fatty acids for use in human health and disease, while also providing a sustainable source of omega-3 enriched oils to the aquaculture industry as well as a sustainable feedstock for bio-derived jet fuel.
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