TULSA, Okla., June 6, 2013 (GLOBE NEWSWIRE) -- Syntroleum Corporation (Nasdaq:SYNM) filed suit against Neste Oil Singapore Pte Ltd with the High Court of Singapore asserting its Singapore Patent No. 169053 entitled "Hydrocracking Process For Biological Feedstocks and Hydrocarbons Produced Therefrom." In the court filings for Suit 510 of 2013, Syntroleum alleges that Neste "operates a renewable diesel refinery at 1 Tuas South Lane, Singapore 637301, that processes bio-renewable feedstocks to produce hydrocarbon products such as renewable diesel fuel and bio-naphtha" which Syntroleum alleges "falls within at least Claim 1 of the Patent." Syntroleum's patent issued on May 31, 2013, and expires on August 21, 2028.
Syntroleum's action against Neste is not the first dispute between the parties in Singapore. On February 7, 2013, Syntroleum filed suit against Neste with the High Court of Singapore asserting its Singapore Patent No. 172045 entitled "Even Carbon Number Paraffin Composition And Method of Manufacturing Same." In the court filings for Suit 120 of 2013, Syntroleum alleged that Neste's "operation at its renewable diesel refinery in Singapore involves the processing of a bio-renewable feedstock to produce a hydrocarbon composition having at least 75 wt % even carbon number paraffins" which Syntroleum alleges "is claimed at the very least, in claim 22 of the Patent."
Syntroleum has invested substantial time and resources in its proprietary Bio-Synfining® technology and will seek to enforce its intellectual property rights in venues around the world.About Syntroleum (Nasdaq:SYNM) Syntroleum Corporation owns the Syntroleum® Process for Fischer-Tropsch (FT) conversion of synthesis gas into liquid hydrocarbons, the Synfining® Process for upgrading FT liquid hydrocarbons into refined petroleum products, and the Bio-Synfining® technology for converting renewable feedstocks into drop-in fuels. For additional information, visit the Company's web site at www.syntroleum.com . This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as well as historical facts. These forward-looking statements include statements relating to the Fischer-Tropsch ("FT") process, Syntroleum ® Process, Synfining ® Process, and related technologies including, gas-to-liquids ("GTL"), coal-to-liquids ("CTL") and biomass-to-liquids ("BTL"), our renewable fuels Bio-Synfining ® Technology (hereinafter "Technologies"), plants based on these Technologies, anticipated cost and schedule to design, construct and operate plants, expected production of fuel, obtaining required financing for these plants and other activities, the value and markets for products, testing, certification, characteristics and use of plant products, the continued development of our Technologies, use of proceeds from our equity offerings, anticipated revenues, availability of catalyst, our support of and relationship with our licensees, and any other forward-looking statements including future growth, cash needs, capital availability, operations, business plans and financial results. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these kinds of statements involve risks and uncertainties. Actual results may not be consistent with these forward-looking statements. Syntroleum undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. Important factors that could cause actual results to differ from these forward-looking statements are described under "Item 1A. Risk Factors" and elsewhere in our 2012 Annual Report on Form 10K. ®"Syntroleum", "Synfining", and "Bio-Synfining" are registered as trademarks and service marks in the U.S. Patent and Trademark Office.
CONTACT: Ron Stinebaugh Syntroleum Corporation (281) 224-9862 www.syntroleum.com
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