In Ohio, Agragen LLC, a Cincinnati-based plant sciences company, predicts that the recent surge in oil prices will soon permit biofuels derived camelina oil to be on parity with petroleum derived fuels in costs. Sam Huttenbauer Jr., CEO of Agragen said, “This recent development will mark the first time a renewable source of fuel will be competitive in the energy marketplace without subsidies.”
“What really pushes camelina derived oil to be competitive is the combination of our transformation capabilities with additional technology we have licensed that in preliminary studies demonstrate an extensive increase in yield and seed size. The combination of these two changes in traits is expected to double the yield per acre,” said Eric J. Murphy, Agragen’s CSO.
Agragen uses Camelina sativa as a platform to produce biopharmaceuticals and bioactive fatty acids for use in human health and disease, while also providing omega-3 enriched oils to the aquaculture industry and a sustainable feedstock for bio-derived jet fuel.