TULSA, Okla., Oct. 9 /PRNewswire/ -- Syntroleum Corporation (Nasdaq: SYNM)
announced today that it has produced and shipped synthetic fuel made to JP-5
specifications, under a purchase order from the Naval Surface Warfare Center
Crane Division, under sponsorship from US Navy Office of Naval Research (ONR).
The Navy project is to explore alternative fuels for fuel cell applications,
in this case a synthetic version of a navy logistics fuel JP-5. The synthetic
JP-5, designated S-5 by Syntroleum, will be tested in a fuel cell system
manufactured by IdaTech Corporation, which is conducting the tests for the
Navy. Syntroleum fuels contain virtually no sulfur, aromatics or metals. The
absence of these contaminants enables simplification of fuel cell design,
which reduces operating costs and size.
Previous tests of similar Syntroleum synthetic fuels in IdaTech
Corporation (formerly Northwest Power Systems) fuel cell systems demonstrated
performance that met or exceeded that of conventional petroleum fuels.
Greater hydrogen density for the synthetic fuels was manifested by a
significant increase of hydrogen yields from the reformers to produce 4% to as
much as 11.6% more electricity than from conventional fuels.
"These tests should further underscore the benefits of ultra-clean fuels
made from natural gas with Syntroleum technology. They also highlight the
opportunity to design fuels with the purity required for new energy
technologies such as fuel cells," said Mark Agee, Syntroleum president and
chief operating officer.
Syntroleum Corporation licenses its technology for the conversion of
natural gas into synthetic liquid hydrocarbons. Current licensees include
ARCO, Enron, Ivanhoe Energy, Kerr-McGee, Marathon, Repsol-YPF, Texaco and the
Commonwealth of Australia. The company is also working with DaimlerChrysler,
General Motors and Volkswagen on the testing of super-clean synthetic fuels.
This document includes forward-looking statements as well as historical
information. Forward-looking statements include, but are not limited to,
statements relating to the testing, certification, characteristics and use of
synthetic fuels and alternative fuels, the Syntroleum Process and related
technologies and products. 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 the potential that
commercial-scale GTL 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), construction risks, risks associated with investments and
operations in foreign countries, 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.
SOURCE Syntroleum Corporation