Test results show that the jatropha and algae oil biofuel blend used in Continental Airlines' Jan. 7 biofuel demonstration flight proved approximately 1.1% more efficient than traditional jet fuel and reduced life cycle greenhouse emissions by an estimated 60%-80%, adding to increasing demand for commercial quantities of biojet fuel. Similar urgency by the U.S. military has led the Defense Advanced Research Projects Agency (DARPA) to contract over $43 million in research to accelerate the development of biofuel surrogates for military- grade jet fuel (JP-8), of which the Department of Defense (DOD) consumes nearly 3 billion gal/yr. Please click here

The ambitious plans of Australasian biodiesel producer Mission NewEnergy Ltd. to develop 1 million acres of jatropha are unfolding in India. The company has developed an extensive network of small farmers that marries high-tech with traditional agriculture to develop a new feedstock supply chain. Jatropha is very familiar to the small farmers of India, used as a living fence to keep free-roaming cattle out of their food plots. Many of those farmers are now planting jatropha on high ground not suitable for food plots, primarily because it is too high for the gravity irrigation required for successful crop production. Everything about the project is as foreign and exotic to a Westerner as the scenes in the Academy Award winning movie "Slumdog Millionaire," albeit in a rural setting. Please click here.

Mission NewEnergy Limited (ASX:MBT) is pleased to announce that its wholly owned subsidiary, Mission Biotechnologies Sdn Bhd (MBTSB) has become the first biodiesel manufacturer in the world to receive attestation under the German Government supported International Sustainability and Carbon Certification Project (ISCC). Please click here.

To download a PDF version of the annual report. Please click here.

Mission has posted a profit of 2.3 million after tax for the year ending June 30 2008.

Managing director Nathan Mahalingam said the maiden profit was very pleasing and put the company in a position for continued strong revenue and earnings growth in FY09.

The 2008 result was driven by a strong contribution from Mission's feedstock business. A total revenue of $12.9 million and an EBITDA of A$7.99 million was achieved.

Mission's feedstock division is a key differentiation factor in the biodiesel industry. Mission NewEnergy Limited will ultimately replace Crude Palm Oil with Crude Jatropha Oil.

To view the Preliminary Report please click here. 

The new name reflects a conscious decision by the Board to broaden our focus beyond biodiesel in order to invest in our future.