According to the projections in the "Camelina Aviation Biofuels Market Opportunity and Renewable Energy Strategy Report," released by Biomass Advisors’ biofuels market researchers, the production of Camelina biofuel is set to reach one billion gallons by the year 2025. The report also projected that 25,000 new jobs will be created in the sector and generate new revenues of more than $5.5 billion as well as produce new agricultural income amounting to $3.5 billion for the farmers in Canada and the U.S.
Recently many companies including Alt-Air and Sustainable Oils have made announcements that beginning from 2014, Camelina-based jet fuel totaling 100 million gallons will be supplied to a consortium of 15 airlines. The report provides an in-depth analysis of market drivers for this biofuel for the aviation industry.
The projections in the report are based on various factors including crop yields, land-use change, available land, and historical land. The report also includes a general summary of relevant biofuel market and emerging regulation and legislation that helps to create a market for energy crops such as Camelina. It also contains detailed study of Camelina economics including cost of biofuel feedstocks, petroleum parity analysis, and an overview of over 75 Camelina research projects in more than 20 states in the U.S.
Co-author of the report, Chet Geschickter, said that since the tax incentives for biodiesel is anticipated, the biofuel industry should concentrate on securing low-cost, sustainable feedstocks. Food is the major driver for the prices of conventional canola and soy oil. Camelina, a non-food energy crop, holds much promise to make biofuels a viable alternative, Geschickter said. Mackinnon Lawrence, co-author of the report, commented that for biofuels to be profitable and sustainable, it needs non-food energy crops such as Camelina. This crop can be grown on cropland that is idle to produce cost-competitive, non-subsidized renewable jet fuels, Lawrence said.