"In terms of commercialization of the crop, to date more than 20,000 acres of crop have been commercially grown by over 140 innovative farmers in North America."
Fabijanski also said that after extensive testing by the United States Department of Agriculture over several years, the crop was now being evaluated for commercial production in both Europe and South America.
Biofuels are becoming an increasingly important and innovative part of the planet's energy mix, with the International Energy Agency stating that they could provide 27 percent of the world's transportation fuel by 2050.
In the U.K., for example, London based green energy company bio-bean are taking waste coffee grounds and turning them into bio-diesel, while Edinburgh's Celtic Renewables is turning the by-products of whisky into a next generation biofuel.
The oilseed produced by Agrisoma is called "Resonance carinata." Described by the company as being hardy and drought tolerant, it is a non-food crop that can be grown on fallow land that would otherwise lie unused.
"This work is unique, because we are able to measure the carbon from the farmer's field all the way to the exhaust pipe of the airplane at 37,000 feet over Montreal," Fabijanski said.
He also explained that a 50lb bag of seed would produce up to 8,000 litres of jet fuel, with the by-product a nutritional animal feed.