Columbus, Ohio and Hayward, California, USA
September 21, 2010
Oxford Resource Partners, LP (NYSE: OXF) ("Oxford") and Mendel Biotechnology, Inc. ("Mendel") today announced their collaborative agreement to develop a pilot project to produce Mendel's proprietary Miscanthus varieties on land previously reclaimed from mining operations by Oxford. The goal of the project is to demonstrate the feasibility and economic viability of biomass production from dedicated energy crops in eastern Ohio.
Miscanthus is a genus of high-yielding perennial grass that has shown great promise as a sustainable source of renewable energy. Its deep rhizome structure and broad adaptation make it a potentially attractive crop for converting reclaimed mine land to a source of biomass for electricity or liquid transportation fuel.
"While Oxford's focus will always be responsible coal mining, we recognize that utilities in the State of Ohio are committed to including biomass among their fuel sources in the coming years," said Charles C. Ungurean, President and CEO of Oxford. "Part of our responsibility is to reclaim land that was formerly mined, a program in which we take great pride. As such, we are pleased to be able to assist our utility partners in advancing their efforts to develop alternative fuel sources," continued Mr. Ungurean.
"We are excited to work with Oxford to demonstrate Miscanthus as a viable option for this important energy producing region of the country," said Neal Gutterson, Mendel's President and CEO. "The goal of energy independence provides the spark for innovative companies such as Oxford to find ways to convert marginal or otherwise idle lands to a more sustainable use by employing the latest advancements in genetics and crop technologies."
Oxford Resource Partners, LP is a low cost producer of high value steam coal in Northern Appalachia and the Illinois Basin. Oxford markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. As of December 31, 2009, Oxford controlled 91.6 million tons of proven and probable coal reserves, and it currently operates 17 active mines that are managed as eight mining complexes. Oxford is headquartered in Columbus, Ohio.
Mendel Biotechnology, Inc. is a pioneer in the application of functional genomics to the study of plant genes and is a leading developer of dedicated energy crops for the bioenergy markets. Mendel has relationships with leading agricultural, energy, forestry and horticulture companies for the commercialization of improved seed and plant products, and is developing new seed and feedstock products for the emerging bioenergy market.
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