Syntroleum Synthetic Fuels Showcased at North American International Auto Show
6 January 1999Syntroleum Synthetic Fuels Showcased at North American International Auto Show
DETROIT, Jan. 5 -- "In our view, the most exciting thing at this year's Auto Show isn't a car, it's what's inside," said Mark Agee, President of Syntroleum Corporation . A Tulsa, Oklahoma-based energy technology company, Syntroleum is the developer of the designer fuels being showcased by DaimlerChrysler in its Dodge Power Wagon concept car at this week's 1999 North American International Auto Show in Detroit. Syntroleum's fuel, produced using the company's proprietary process for converting natural gas into synthetic liquid hydrocarbons, contains no sulfur or aromatic molecules, the components of conventional petroleum-based fuels that create emissions problems in conventional diesel engines. The fuel also has the advantage of being able to run in today's vehicles without modification, as well as the ability to be distributed through today's existing pipelines and gas stations. "We are very pleased to be working with DaimlerChrysler to explore the potential for our synthetic fuel technology to provide an abundant source of clean, affordable and higher-performing fuels for the future," said Mr. Agee. "We have been very impressed with their commitment to cleaner and more efficient engine technology, as well as their obvious technical expertise." In October, Syntroleum and Chrysler signed an agreement to jointly develop designer fuels, lubricants and automatic transmission fluids using the Syntroleum Process. In addition to producing synthetic transportation fuels, lubricants and other specialty products, Syntroleum's GTL technology offers a number of other potential benefits for the environment and economic development. These include: -- alleviating the need for flaring natural gas, which is believed to contribute to global warming and has been outlawed in a number of countries; and -- helping to meet increasingly stringent environmental standards and the requirements of the 1992 Energy Policy Act, which requires the federal government and many large cities to convert an increasing percentage of their transportation fleets to alternative fuels. Syntroleum licenses its proprietary process for converting natural gas into synthetic crude oil and transportation fuels. Current licensees include Texaco, ARCO, Marathon Oil, Kerr-McGee, ENRON and YPF. 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, GTL plants based on the Syntroleum Process (including the development of planned plants), the economic use of such plants and the continued development of the Syntroleum Process. 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), 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. "Syntroleum" is registered as a trademark and service mark in the U.S. Patent and Trademark Office.