(EnergyAsia, February 10, Tuesday) — Australia’s Mission NewEnergy Limited said it will start up its second biofuel refinery in Kuantan city in Malaysia next month. The 250,000-tonne-per-year plant, located near an existing 100,000 t/y refinery, will require debt funding for completion.
 
The Australian Stock Exchange-listed company said it expects to operate profitably in 2009 after posting its maiden profit last year.

In an update, it offered a rosy outlook for the year ahead led by the successful commercial operation of its jatropha plantations in India to provide all the feedstock for its biodiesel refineries and future ethanol refineries.

Mission said shareholders will gain “significant value” through the commercialisation of its ligno-cellulosic ethanol technology, the continued rapid expansion of the jatropha operations, the expansion of its biodiesel refining capability and the expansion of its windpower business.

“The global macro environment of government stimulus targeting the alternative energy sector, heightened social and political concern over climate change and Mission’s established position provide a favourable outlook for 2009 and beyond,” it said.

Mission said it has sold the bulk of this year’s biodiesel output to a major global oil and biofuels player at fixed margin sales agreements.

It expects its second plant to benefit from a “significant operating cost reduction” associated with the use of second generation technology and economies of scale.

Mission said its jatropha business is expected to be “cashflow positive” in the first quarter of 2009.

In addition, the company will benefit from harvesting certified emissions reductions (CER) carbon credits for its wind farm operations due to start up in March.