Mission New-Energy, an Australian firm which has a stake of 100 kmta of biodiesel plant at Malaysian port of Kuantan told the press that all of the potential production is already sold out in 2009. Mission is now on its way for a second palnt which will be able to produce an extra of 250 kmta of biodiesel.
The second plant project has been delayed in construction for many months due to technology switching. Despite the global economic turmoil, Mission Energy has able to sell all of 2009 contractual production to a major global oil and biofuels player for a cost-plus-margin basis protecting it from the volatility in commodities markets.
The recent huge price drop in biodiesel last year had pushed many biodiesel producers to the brink of collapse.
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