TULSA, Okla.--(BUSINESS WIRE)--Sept. 19, 2006--Syntroleum
(Nasdaq:SYNM), a leader in Fischer-Tropsch (FT) technology, announced
today that its ultra-clean jet fuel has been successfully tested in a
United States Air Force B-52 Stratofortress Bomber aircraft. The plane
lifted off from Edwards Air Force Base, Calif., with a 50/50 blend of
FT and traditional JP-8 jet fuel which was burned in two of the eight
engines on the plane. This marks the first time that FT jet fuel has
been tested in a military flight demo, and is the first of several
planned test flights. This landmark event is a result of more than
four years of successful research and development efforts with the
U.S. Department of Defense (DOD), focused on producing a high
performance alternative fuel for military applications.
"The program culminating in the test flight today is the first
step in opening up new horizons for sourcing fuel for military
purposes," said Bill Harrison, a fuels expert with the Air Force
Research Laboratory at Wright-Patterson Air Force Base in Ohio.
The fuel was produced at Syntroleum's FT demonstration facility
near Tulsa, Okla. where it has produced over 400,000 gallons of ultra
clean products. This flight test is part of the DOD's Assured Fuel
Initiative, an effort to develop secure domestic sources for the
military's energy needs. The Pentagon hopes to reduce its use of crude
oil and foreign producers and get about half of its aviation fuel from
alternative sources by 2016.
"This historic flight demonstrates that our fuel can meet the
stringent fuel requirements of the DOD and we believe that this
successful test can provide the military with the necessary data to
validate the quality and integrity of our product," said Jack Holmes,
president and CEO of Syntroleum. "This test is a significant milestone
for Syntroleum and is a result of more than four years of research and
development efforts with the DOD focused specifically on producing
high performance alternative fuel for military applications. The
acceptance of our FT fuels further validates the quality and integrity
of our product and we believe the successful completion of this test
provides Syntroleum with an opportunity for additional long-term
contracts with the military."
Syntroleum's jet fuel has shown superior performance
characteristics compared to traditional aviation fuels. Prior testing
by the military on the company's FT fuels have shown a reduction in
particulate matter and soot emissions of greater than 90 percent
depending upon the turbine engine type compared to aviation fuels
produced by refining crude oil. The reduced particulate matter and
soot emissions significantly improve engine efficiency, performance
and overall air quality. In addition to the company's work with the
DOD, Syntroleum's technology and FT products have been successfully
tested in several government programs through the U.S. Department of
Energy's ultra clean fuels program and with academic research
institutions and auto manufacturers. In fact, one of the shuttle buses
used today at Edwards Air Force Base is running Syntroleum's diesel
fuel as part of an ongoing road test.
The jet fuel that was used today was produced from natural gas
using Syntroleum's proprietary FT process, but the company believes
the fuel can also be produced from the vast domestic coal resources.
The potential to produce these fuels from domestic resources and the
opportunity for long-term supply agreements with the DOD provides a
mechanism for diversifying the nation's energy supply and increasing
domestic job growth. In addition to military applications, successful
testing of Syntroleum's FT jet fuel could lead to opportunities with
commercial airlines.
To learn more about the Air Force test please see the following
link; www.af.mil.
About Syntroleum (Nasdaq:SYNM)
Syntroleum Corporation owns a proprietary process for converting
natural gas or synthesis gas derived from coal and other carbon-based
feedstock into synthetic liquid hydrocarbons. The company plans to use
its technology to develop and participate in natural gas and coal
monetization projects in a number of global locations.
This document includes forward-looking statements as well as
historical information. Forward-looking statements include, but are
not limited to, economics and development of possible Fischer-Tropsch
projects, future capital and operating costs of the company, quality
and performance of Fischer-Tropsch catalysts, potential results for
Syntroleum shareholders, testing, qualities and uses of
Fischer-Tropsch fuels, future programs with the United States
government or it various entities, ownership of intellectual property
rights, execution of definitive agreements, technology development and
market development. When used in this document, the words
"anticipate," "believe," "estimate," "expect," "intent," "may,"
"project," "plan," "should," and similar expressions are intended to
be among the statements that identify forward-looking statements.
Although Syntroleum believes that its expectations reflected in these
forward-looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual
results will be consistent with these forward-looking statements.
Important factors that could cause actual results to differ from these
forward-looking statements include failure to execute definitive
agreements, the potential that commercial-scale GTL or coal-to-liquids
plants will not achieve the same results as those demonstrated on a
laboratory or pilot basis or that such plants will experience
technological and mechanical problems, the potential that improvements
to the Syntroleum Process currently under development may not be
successful, the impact on plant economics of operating conditions
(including energy prices and government support for such plants),
construction risks, risks associated with investments and operations
of GTL and coal-to-liquids plants, the ability to implement corporate
strategies, competition, intellectual property risks, Syntroleum's
ability to obtain financing and other risks described in the company's
filings with the Securities and Exchange Commission.
(R) "Syntroleum" is registered as a trademark and service mark in
the U.S. Patent and Trademark Office
CONTACT: Syntroleum Corporation, Tulsa
Gary Gamino, 918-592-7900
ggamino@syntroleum.com
SOURCE: Syntroleum Corporation
|