Targeted Growth, Inc., and Green Earth Fuels have created a joint venture called Sustainable Oils, Inc.
The new venture aims to produce and market up to 100 million gallons of camelina-based biodiesel by 2010, launching the single largest U.S. contract for the unique biodiesel-specific feedstock. Nearly all of the initial camelina production is expected to be grown in Montana.
According to the new company, camelina, a distant relative to canola, can grow on marginal land, requires minimal water or fertilizer, and can be harvested with traditional equipment, thereby creating a potential path for Montana farmers to participate in the emerging green fuel industry.
TGI has been working on camelina for the past three years in greenhouse and field trials. Specifically, it has used non-transgenic molecular-assisted breeding programs to create a crop that it says is well suited to Montana's climate and soil and that produces high-quality biodiesel.
"We have created a better feedstock for biodiesel," said Tom Todaro, CEO of Targeted Growth. "Camelina can be rotated with current Montana crops, it grows in land with lower agricultural value, and it doesn't significantly increase the use of fertilizer or irrigation water. We think this will be a model for the development and use of other biofuel-specific crops."
About Targeted Growth
Targeted Growth uses agricultural bioscience to develop plants for renewable fuels such as biodiesel and ethanol. This includes technology that improves the traits of crops themselves (yield increases, drought resistance, fertilizer requirements, etc.) and the ultimate performance of those crops once converted into biofuels (efficiency of refining, fuel performance characteristics). In addition, the company also develops, grows and markets biofuel specific crops that are optimized and continually improved for use specifically as a feedstock for biofuels. The company has strategic partnerships with leading researchers and agribusinesses around the world. Targeted Growth is based in Seattle, Wash., with labs in Seattle, Saskatchewan, Ottawa and New Brunswick. More information is available at www.targetedgrowth.com.
About Green Earth Fuels
Green Earth Fuels is a global, vertically integrated biodiesel energy company providing the requisite product quality, scalability, and streamlined logistics to reliably supply leading energy companies with renewable, environmentally clean and high-value biodiesel fuel and byproducts. Green Earth Fuels is based in Houston, Texas, and is majority owned by Riverstone Holdings, LLC, The Carlyle Group, and Goldman Sachs. More information is available at www.greenearthfuelsllc.com.
About Sustainable Oils
Sustainable Oils, Inc. is a producer and marketer of renewable, environmentally clean, and high-value Camelina-based biodiesel fuel. A joint venture between Targeted Growth, Inc., a renewable energy bioscience company, and Green Earth Fuels, a vertically integrated biodiesel energy company, Sustainable Oils is focused on the continued research and development of dedicated energy crops such as Camelina. Sustainable Oils solidly supports both agricultural and green energy initiatives with Camelina, which is efficiently and economically grown on marginal lands, harvested with traditional equipment, and requires minimal water and fertilizer.