product sales are anticipated to be primarily in the mandated Malaysian and United States markets.
Mission’s joint venture partners are:
Felda Global Venture (“Felda”):
Part of the multi billion dollar Felda Group listed on the Malaysian Stock Exchange. Felda is the world’s largest crude palm oil producer. Felda is the 60% shareholder of the joint venture and will be supplying all the feedstock material for the project.
Benefuels Inc (“Benefuels”):
Benefuels is a technology company with 6 patents issued and 50 other in various jurisdictions and stages of prosecution. Is a 20% shareholder of the Joint Venture and technology supplier. The Joint Venture will utilize its ENSEL® technology, which will allow the processing of poor quality / low cost feedstock.
The Benefuels and the ENSEL® technology is supported and endorsed by major global firms Flint Hills Resources (one of the largest United States largest oil refining, chemicals and biofuels companies), Suncor Energy (Canada’s largest oil refiner and one of the worlds top 200 companies) and Itochu Corporation (one of Japan’s largest energy trading corporations).
For an update on the status of operations, please refer to the ASX Announcements page.