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Jan. 11, 2013 /PRNewswire/ -- BenchMark Energy Corporation (OTC: BMRK) through its subsidiary Energy Partners LLC is pleased to announce it has launched a new division named Energy Partners Logistics and Transportation Management.
Mark Bateman, CEO of BenchMark Energy states, "With the progressive expansion in the domestic and international glycerin markets, BenchMark and Energy Partners have detected a void in the logistics and transportation of glycerin between source, refinement, and the end user. The Company has determined and is pleased to extend additional services in the form of logistical and transportation services to its current and prospective clients to fill this need."
Energy Partners is a leading supplier of crude glycerin as a BTU enhancement and alternative energy source. The formation of Energy Partners Logistics and Transportation Management establishes the Company's position to attain greater market share as a provider of glycerin by delivering solutions that either restore or enhance operating margins hindered by logistical and transportation deficiencies. Energy Partners Logistics and Transportation Management will be led by Energy Partners Operations Manager
Michelle Coers, who has spearheaded the Company's internal logistics and transportation management to date.
According to the International Energy Agency (IAE), an autonomous energy agency of comprised of 28 member nations, biofuels account for 2% of the transport fuels used today. However, the agency cites that due to emerging technologies offering considerable growth potential, biofuels will make up 27% of the world transport fuel by 2050. Energy security has become an urgent focus for every advanced and emerging country worldwide to ensure energy independence. Enhanced technologies are creating efficient improvements made available to further cost reductions in the production of biofuels and glycerin.
Energy Partners has identified that inefficiencies in the logistical infrastructure within the biofuel sector has impaired certain producers, vendors and consumers ability to capitalize on and utilize favorable biofuels and glycerin in targeted energy markets. The largest cost associated with the production of biofuels and glycerin is transportation and the logistical management that encompasses every aspect of delivery to the biofuel and glycerin consumer. A study conducted by Professor Hong of
South Carolina State University estimates that nearly 25% of biofuel production expense is related to transportation. Energy Partners Logistics and Management's mandate will be to provide cost effective solutions in an expanding and evolving biofuel and glycerin market. These benefits will allow the feedstock source, the refiner, and the end-user to concentrate efforts on improving operating margins to sustain rapid organic growth.
In addition to providing a valuable added service and benefit to Energy Partners' existing customers, the Company asserts that supply-side opportunities exist within certain global demographics can be matched with a significant economic benefit to glycerin end-users who are presented to fill the global market demands.